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1. 2. 3. For each of the following, compute the future value: (Do not round Intermediate calculations and round your answers to 2 decimal places,
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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.) Years Future Value Interest Rate 3 % Present Value 2.960 7,846 85,381 221,614 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.) Years Interest Rate 91 % $ Present Value 715 905 15,000 $ 70,300 Future Value 1,381 1,718 141,832 312.815 26 You have just received notification that you have won the $1 million first prize in the Centennial Lottery. However, the prize will be awarded on your 100th birthday (assuming you're around to collect), 80 years from now. What is the present value of your windfall if the appropriate discount rate is 8.45 percent? (Do not round intermediate calculations and enter your answer in dollars, not millons of dollars, rounded to 2 decimal places, e.g., 1,234,567.89.) Present valueStep by Step Solution
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