9. Computing the Time Value of Money for Savings. Use future value and present value calculations (see

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9. Computing the Time Value of Money for Savings. Use future value and present value calculations (see tables in the Chapter 1 appendix) to determine the following. (Obj. 5)

a. The future value of a $500 savings deposit after eight years at an annual interest rate of 3 percent.

b. The future value of saving $1,500 a year for five years at an annual interest rate of 4 percent.

c. The present value of a $2,000 savings account that will earn 3 percent interest for four years.

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Personal Finance

ISBN: 9780073530697

10th Edition

Authors: Jack Kapoor, Les Dlabay, Robert Hughes

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Question Posted: Jul 24, 2024 11:02 AM

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9. Computing the Time Value of Money for Savings. Use future value and present value calculations (see

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Personal Finance

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