Question
1. Assume you are planning to invest $5,617 each year for six years and will earn 10 percent per year. Determine the future value of
1. Assume you are planning to invest $5,617 each year for six years and will earn 10 percent per year. Determine the future value of this annuity due problem if your first $5,617 is invested now. (Round answer to 2 decimal places, e.g., 1,220.25.)
Future value |
2. What would be the future value of $7,911 invested annually for nine years beginning one year from now if the annual interest rate is 10 percent? (Round answer to 2 decimal places, e.g., 1,220.25.)
Future value |
3. Determine the future values if $6,534 is invested in each of the following situations: (Round answers to 0 decimal places, e.g., 2,345.)
8 percent for 10 years | $ | |
10 percent for 7 years | $ | |
12 percent for 4 years | $ |
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