In: Finance
19. PLEASE SHOW EXCEL WORK AND ANSWER ONLY B THANKS!
Use future value and present value calculations (Use Exhibit 1-A, Exhibit 1-B, Exhibit 1-C) to determine the following: |
a. |
The future value of a $600 savings deposit after eight years at an annual interest rate of 6 percent. (Round time value factor to 3 decimal places and final answer to 2 decimal places.) |
Future value | $ 956.40 |
b. |
The future value of saving $1,800 a year for five years at an annual interest rate of 5 percent. (Round time value factor to 3 decimal places and final answer to 2 decimal places.) |
Future value | $ |
c. |
The present value of a savings account that will earn 3 percent annual interest and be worth $2,000 at the end of four years. (Round time value factor to 3 decimal places and final answer to the nearest whole dollar.) |
Present value | $ 1770.00 |