Answered step by step
Verified Expert Solution
Question
1 Approved Answer
For each of the following, compute the future value (Do not round intermediate calculations and round your final answers to 2 decimal places. (e.g., 32.16))
For each of the following, compute the future value (Do not round intermediate calculations and round your final answers to 2 decimal places. (e.g., 32.16)):
| Years | Interest rate | Present value | Future value | ||
| 10 | 14 | 2750 | 10194.86 | ||
| 8 | 8 | 9752 | |||
| 15 | 13 | 86355 | |||
| 6 | 5 | 193796 | |||
| To calculate the future value of any future value we will use the following formula | |||||
| FV=PV*(1+i)^n | |||||
| i=interest rate | |||||
| n=no. of years | |||||
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Handbook Of Financial Econometrics
Authors: Yacine Ait-Sahalia, Lars Peter Hansen
1st Edition
044450897X, 978-0444508973
