Question

In: Finance

For each of the following, compute the future value: (Do not round intermediate calculations and round...

For each of the following, compute the future value: (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.)
  

Present Value Years Interest Rate Future Value
$ 2,450 10 13 % $
9,853 23 8
103,305 17 6
241,382 33 4

Solutions

Expert Solution

We use the formula:  
A=P(1+r/100)^n
where   
A=future value
P=present value  
r=rate of interest
n=time period.

a.A=2450*(1.13)^10

=2450*3.39456739

=$8316.69(Approx)

b.A=9,853*(1.08)^23

=9,853*5.87146365

=$57851.53(Approx)

c.A=103,305*(1.06)^17

=103,305*2.69277279

=$278176.89(Approx)

d.A=241382*(1.04)^33

=241382*3.6483811

=$880653.53(Approx)


Related Solutions

For each of the following, compute the future value: (Do not round intermediate calculations and round...
For each of the following, compute the future value: (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.)    Present Value Years Interest Rate Future Value $ 1,850 11      13 % $    7,952 7      9    68,355 14      12    175,796 8      6   
For each of the following, compute the present value: (Do not round intermediate calculations and round...
For each of the following, compute the present value: (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) Present Value Years Interest Rate Future Value $ 11 5 % $ 17,828 3 10 42,017 15 13 795,382 20 12 652,816
Complete the following using present value. (Use the Tableprovided.) (Do not round intermediate calculations. Round...
Complete the following using present value. (Use the Table provided.) (Do not round intermediate calculations. Round the "PV factor" to 4 decimal places and final answer to the nearest cent.)Amount desired at end of periodLength of timeRateCompoundedOn PV Table 12.3PV factor usedPV of amount desired at end of periodPeriod usedRate used$18,1005 years24%Quarterly%$
For each of the following annuities, calculate the annuity payment. (Do not round intermediate calculations and...
For each of the following annuities, calculate the annuity payment. (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) FV is 24,050, Years 8, and Interest Rate is 4%, Annuity Paymernt? FV is 950,000, Years 35, and Interest Rate is 6%, Annuity Payment? FV is 760,000, Years 21, and Interest Rate is 7%, Annuity Payment? FV is 130,000, Years 12, and Interest Rate is 3%, Annuity Payment? Please show answers using process on a...
1. Find the EAR in each of the following cases. (Do not round intermediate calculations and...
1. Find the EAR in each of the following cases. (Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16. Use 365 days in a year.) Stated Rate (APR) Number of Times Compounded Effective Rate (EAR) 12.50 % Quarterly % 13.50 Monthly % 18.50 Daily % 14.50 Semiannually % 2. Find the APR, or stated rate, in each of the following cases. (Do not round intermediate calculations and enter your answers...
Solve for the unknown interest rate in each of the following: (Do not round intermediate calculations...
Solve for the unknown interest rate in each of the following: (Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.) Present Value Years Interest Rate Future Value $ 785 4 % $ 1,521 975 5 1,858 22,000 16 148,832 77,300 19 326,815
Complete the following using present value. (Use the Table provided.) (Do not round intermediate calculations. Round...
Complete the following using present value. (Use the Table provided.) (Do not round intermediate calculations. Round the "PV factor" to 4 decimal places and final answer to the nearest cent.) Amount desired at end of period Length of time Rate Compounded On PV Table PV factor used PV of amount desired at end of period Period used Rate used $10,700 4 years 12% Monthly % $
Complete the following using present value. (Use the Table provided.) (Do not round intermediate calculations. Round...
Complete the following using present value. (Use the Table provided.) (Do not round intermediate calculations. Round the "PV factor" to 4 decimal places and final answer to the nearest cent.) Amount desired at end of period Length of time Rate Compounded On PV Table PV factor used PV of amount desired at end of period Period used Rate used $10,700 4 years 12% Monthly % $
For each of the following annuities, calculate the annual cash flow. (Do not round intermediate calculations...
For each of the following annuities, calculate the annual cash flow. (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) Cash Flow Present Value Years Interest Rate $ $ 31,900 6 12 % 28,900 8 10 152,000 15 15 221,700 15 14
For each of the following annuities, calculate the annual cash flow. (Do not round intermediate calculations...
For each of the following annuities, calculate the annual cash flow. (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) Cash Flow Present Value Years Interest Rate $ $ 32,000 6 7 % 29,050 8 5 153,500 16 10 223,500 21 9
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT