Calculating Future Values For each of the following, compute the future value: Present Value Years Interest...

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Calculating Future Values For each of the following, compute the future value: Present Value Years Interest Rate Future Value $ 2,960 7 13% 7,846 16 7 85,381 19 221,614 26 9 5 Calculating Present Values For each of the following, compute the present value: Present Value Years Interest Rate Future Value 15 7% $ 19,415 8 13 25 629,381 Calculating Interest Rates Solve for the unknown interest rate in each of 103 11 47,382 312,176 the following: Present Value Years Interest Rate Future Value $ 715 905 15,000 70,300 2205 9 $ 1,381 12 26 1,718 141,832 15 312,815 Simple Interest versus Compound Interest First City Bank pays 7 percent simple interest on its savings account balances, whereas Second City Bank pays 7 percent interest compounded annually. If you made a deposit of $7,900 in each bank, how much more money would you earn from your Second City Bank account at the end of 10 years? Calculating Future Values For each of the following, compute the future value: Present Value Years Interest Rate Future Value $ 2,960 7 13% 7,846 16 7 85,381 19 221,614 26 9 5 Calculating Present Values For each of the following, compute the present value: Present Value Years Interest Rate Future Value 15 7% $ 19,415 8 13 25 629,381 Calculating Interest Rates Solve for the unknown interest rate in each of 103 11 47,382 312,176 the following: Present Value Years Interest Rate Future Value $ 715 905 15,000 70,300 2205 9 $ 1,381 12 26 1,718 141,832 15 312,815 Simple Interest versus Compound Interest First City Bank pays 7 percent simple interest on its savings account balances, whereas Second City Bank pays 7 percent interest compounded annually. If you made a deposit of $7,900 in each bank, how much more money would you earn from your Second City Bank account at the end of 10 years?