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Below are four independent scenarios relating to the investment of a single lump-sum amount Calculate the future value of each, using the algebraic formula illustrated
Below are four independent scenarios relating to the investment of a single lump-sum amount Calculate the future value of each, using the algebraic formula illustrated in the textbook. Then, verify your answer by reference to the "future value of $1" table. If you have a "business calculator, additionally verify your calculations using the future value functions included with your calculator a) An investment of $1,750 for 8 years, at a 6% annual rate, compounded annually b) An investment of $3,500 for 1 year, at a 10% annual rate, compounded monthly. c) An investment of $15,000 for 3 years, at a 4% annual rate, compounded semi-annually d) An investment of $8,600 for 4 years at a 7% annual rate, compounded quarterly samal rate.com
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