Time Value of Money Concept
The following situations involve the application of the time
value of money concept. Use the full factor when calculating your
results.
Use the appropriate present or future value table:
FV of $1, PV of $1, FV of Annuity of $1 and PV of Annuity of
$1
1. Janelle Carter deposited $9,610 in the bank
on January 1, 2000, at an interest rate of 15% compounded annually.
How much has accumulated in the account by January...