Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Dec 12, 2023

Calculate the future value of $1000 to be received in 5 years assuming an annual interest rate of 12% (round to 2 decimals) FV

Calculate the future value of $1000 to be received in 5 years assuming an annual interest rate of 12% (round to 2 decimals) FV = PMT= 0 PV = -1000 VY=12 N=5 . CPT FV

Step by Step Solution

★★★★★

3.35 Rating (155 Votes )

There are 3 Steps involved in it

Step: 1

To calculate the future value FV of 1000 to be received in 5 years with an annual interest rate of 1... blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

Step: 3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Fundamentals of Financial Management

Authors: Eugene F. Brigham, Joel F. Houston

12th edition

978-0324597714, 324597711, 324597703, 978-8131518571, 8131518574, 978-0324597707

More Books

Students also viewed these Finance questions

Question

Frederick Corp. is a public company and has 1 0 0 , 0 0 0 common shares outstanding. In 2 0 1 7 , the company reported income from continuing operations before income tax of $ 2 , 7 1 0 , 0 0 0 ....

Answered: 1 week ago

Question

★★★★★

For each problem, show your work steps. A correct answer with no work shown gets half credit (which means you fail the assignment). An incorrect answer with no work receives 0 credit. With time value...

Answered: 1 week ago

Question

★★★★★

Nadia Khalif is the office manager for the Conyers Law Offices in Dallas, Texas. The firm is planning to move its computer network into the cloud so that everyone working on a case can access...

Answered: 1 week ago

Question

★★★★★

Rice and Flower were partners sharing profit and loss equally. Statement of Financial Position as at 31 December 2020. Non current Assets Premises Machinery Vehicles Fittings Current Assets Inventory...

Answered: 1 week ago

Question

★★★★★

Calculate the equilibrium constants of the following reactions at 25C from standard potential data: (a) Sn(s) + CuS04 (aq) ~ Cu(s) + SnS04 (aq) (b) Cu2+(aq) + Cu(s) ~ 2 Cu+{aq)

Answered: 1 week ago

Question

★★★★★

3. What does normalization not do?

Answered: 1 week ago

Question

★★★★★

In Exercise 40 what is the probability that the first event of the combined process is from the N1 process?

Answered: 1 week ago

Question

★★★★★

Spring Co. bought merchandise from All Co. with terms 2/10, n/30. Joanne Ring, the bookkeeper, forgot to pay the bill within the first 10 days. She went to Mel Ryan, the head accountant, who told her...

Answered: 1 week ago

Question

★★★★★

Determine the efficiency of an investment of 200 million $ if the expected monthly income for the first five months is respectively: 20; 40; 50; 80 and 100 million $. The cost of raising capital is...

Answered: 1 week ago

Question

★★★★★

Eli Orchid can manufacture its newest pharmaceutical product in any of three processes. One costs $14,000 per batch, requires 3 tons of one major ingredient and 1 tons of the other, and yields 2 tons...

Answered: 1 week ago

Question

★★★★★

Serrato Manufacturing Company had the following projected information for 2023 Serrato expects to produce and sell 10,870 units. The costs expected to be incurred include: direct labor of...

Answered: 1 week ago

Question

★★★★★

A student calculated an average value of 4289 for a Boyle's law constant k. Based on the number of significant figures in the measured quantities, how many significant figures should this result have...

Answered: 1 week ago

Question

★★★★★

What is the difference between a population parameter and a sample statistic?

Answered: 1 week ago

Question

★★★★★

a) Batu Kawi and FGB Berhad are operated in the same industry. The table below shows the monthly prices of these two corporations for seven months period (from December 2019 to June 2020). The...

Answered: 1 week ago

Question

★★★★★

For the following fact pattern, discuss Padma's liability to Vidal, if any, for any intentional torts. Padma hates Vidal. One day Padma sees Vidal riding his horse on the bridle path. Padma runs up...

Answered: 1 week ago

Question

★★★★★

On February 1, 20x1, Broncos Company issued 9.75% bonds with a face amount of $20 million. The bonds mature in 5 years. For bonds of similar risk and maturity, the market yield is 11.5%. Interest is...

Answered: 1 week ago

Question

★★★★★

Is it a breach of fiduciary duty for a director of a real estate investment trust (REIT) negotiating a joint venture on behalf of the REIT with another director for the development of a portfolio of...

Answered: 1 week ago

Question

★★★★★

Part I of this case, presented in Chapter 3, discussed the situation of DLeon Inc., a regional snack foods producer, after an expansion program. DLeon had increased plant capacity and undertaken a...

Answered: 1 week ago

Question

★★★★★

Morris-Meyer Mining Company must install $1.5 million of new machinery in its Nevada mine. It can obtain a bank loan for 100% of the required amount. Alternatively, a Nevada investment banking firm...

Answered: 1 week ago

Question

★★★★★

Use the spreadsheet model to rework Parts a and b of Problem 20-8. Then answer the following question. In problem 20-8 a and b parts a. Should the loom be leased or purchased? b. The salvage value is...

Answered: 1 week ago

Question

★★★★★

=+48. A more extensive tabulation of t critical values than what appears in this book shows that for the t distribution with 20 df, the areas to the right of the values .687, .860, and 1.064 are .25,...

Answered: 1 week ago

Question

★★★★★

=+b. Predict the mileage for a single Porsche Boxster in a way that conveys information about precision and reliability. How does the prediction compare to the estimate calculated in part (a)?

Answered: 1 week ago

Question

★★★★★

=+46. A study of the ability of individuals to walk in a straight line (Can We Really Walk Straight? Amer. J. of Physical Anthro., 1992: 1927) reported the accompanying data on cadence (strides per...

Answered: 1 week ago

Previous Question Next Question