Exercise $5-2($Static$)$ Future value; single amount $($LO $5-2)$

The four people below have the following investments.

Invested Amount Interest Rate Compounding

Jerry $ $13,00012\%$ Quarterly

Elaine $16,0006$ Semiannually

George $23,0008$ Annually

Kramer $19,00010$ Annually

Required:

$1-$a$.$ Calculate the future value at the end of six years. $($FV of $$1,$ PV of $$1,$ FVA of $$1,$ and PVA of $$1)$

$1-$b$.$ Who has the greatest investment accumulation? Calculate the future value at the end of six years.

Note: Use Excel or a financial calculator. Round your answers to $2$ decimal places.

Future Value

Jerry

Elaine

George

Kramer Who has the greatest investment accumulation?

Who has the greatest investment accumulation?