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Exercise 5-5 (Algo) Solving for unknowns; single amounts [LO5-4] For each of the following situations involving single amounts, solve for the unknown. Assume that interest
Exercise 5-5 (Algo) Solving for unknowns; single amounts [LO5-4] For each of the following situations involving single amounts, solve for the unknown. Assume that interest is compounded annually. (= interest rate, and n = number of years) (FV of $1, PV of $1, FVA of $1. PVA of $1. FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided. Round your final answers to nearest whole dollar amount.) Present Value Future Value n 1. $ 10,381 $ 78,000 12.0% 6 2. $ 29,002 $ 92,000 2.5% 15 3.1 $ 19,084 $ 49,500 10.0% 5 4. $ 51,349 $ 195,000 3.5% 14 5. $ 28,012 12.0% 10
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