Question
Given below are the future value factors for 1 at 12% for one to five periods. Interest is compounded annually at 12%. Periods Future Value
Given below are the future value factors for 1 at 12% for one to five periods. Interest is compounded annually at 12%.
Periods Future Value of 1 at 12%
1 1.120
2 1.254
3 1.405
4 1.574
5 1.762
What amount should be deposited in a bank account today to grow to $26800 three years from today?
$26800 1.405
$26800 1.120 3
$26800 1.405
$26800 1.405 3
I am not sure if i am correct can you please help me understand how to calculate this.
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
Financial Accounting and Reporting
Authors: Barry Elliott, Jamie Elliott
14th Edition
978-0273744535, 273744445, 273744534, 978-0273744443
