Question
I want to confirm if my answers are right: 9. What is the future value of a principal of $20,000 with a 6% interest rate,
I want to confirm if my answers are right:
9. What is the future value of a principal of $20,000 with a 6% interest rate, and 18 years to maturity?
Not compounded: 41,600
Compounded: 57,965.60
10. What is the future value of a principal of $1,000 with a 3% interest rate compounding monthly, and 5 years to maturity?
1,161.83
11. What is the future value of a principal of $2,000 with a 12% interest rate compounding semiannual, and 2 years to maturity?
2,530.64
12. What is the future value of a principal of $10,000 with a 12% interest rate compounding quarterly, and 1 year to maturity?
11,255
9. What is the future value of a principal of $20,000 with a 6% interest rate, and 18 years to maturity? 10. What is the future value of a principal of $1,000 with a 3% interest rate compounding monthly, and 5 years to maturity? 11. What is the future value of a principal of $2,000 with a 12% interest rate compounding semiannual, and 2 years to maturity? 12. What is the future value of a principal of $10,000 with a 12% interest rate compounding quarterly, and 1 year to maturity? 9. What is the future value of a principal of $20,000 with a 6% interest rate, and 18 years to maturity? 10. What is the future value of a principal of $1,000 with a 3% interest rate compounding monthly, and 5 years to maturity? 11. What is the future value of a principal of $2,000 with a 12% interest rate compounding semiannual, and 2 years to maturity? 12. What is the future value of a principal of $10,000 with a 12% interest rate compounding quarterly, and 1 year to maturityStep by Step Solution
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