Future Value of Debt. Jim accepted a $4,000 loan from his uncle Kurt. Uncle Kurt agreed to defer payments for two years until after Jim graduates from college. How much will Jim owe in two years if his uncle charges him 6% interest compounded annually?

In two years Jim will owe=$

(Round to the nearest cent.)(Use your

financial calculator

or you may use the Financial Tables in

Appendix C

in computing your answer, )