Question
Find the future value of an investment of $5,900 made today for the following rates and periods: (If you solve this problem with algebra round
Find the future value of an investment of $5,900 made today for the following rates and periods:
(If you solve this problem with algebra round intermediate calculations to 6 decimal places, in all cases round your final answer to the nearest penny.)
a. 6.25 percent compounded semi-annually for twelve years.
Future value -?$
b. 7.63 percent compounded quarterly for six years.
Future value -?$
c. 8.9 percent compounded monthly for ten years.
Future value -?$
d. 10 percent compounded daily for three years.
Future value-? $
e. 8 percent compounded continuously for two years.
Future value-? $
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