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Calculate the future value of each of the following investments. Round the answers to the nearest cent Present Value Nominal Interest Rate Compounding Frequency Number
Calculate the future value of each of the following investments.
Round the answers to the nearest cent
| Present Value | Nominal Interest Rate | Compounding Frequency | Number of Compounding Periods | Future Value | |
|---|---|---|---|---|---|
| 1. | $21,400 | 3.25% | Annually | 12 |
|
| 2. | $37,700 | 2.50% | Semi-annually | 24 |
|
| 3. | $14,000 | 6.50% | Quarterly | 36 |
|
| 4. | $32,500 | 2.25% | Monthly | 48 |
|
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International Financial Management
Authors: Jeff Madura
11th Edition
0538482966, 9780538482967
