Question
If you invest $17,500 today, how much will you have in each of the following instances? Use Appendix A as an approximate answer, but calculate
If you invest $17,500 today, how much will you have in each of the following instances? Use Appendix A as an approximate answer, but calculate your final answer using the formula and financial calculator methods.
a. In 7 years at 8 percent? (Do not round intermediate calculations. Round your final answer to 2 decimal places.)
b. In 18 years at 7 percent? (Do not round intermediate calculations. Round your final answer to 2 decimal places.)
c. In 25 years at 6 percent? (Do not round intermediate calculations. Round your final answer to 2 decimal places.)
d. In 20 years at 6 percent (compounded semiannually)? (Do not round intermediate calculations. Round your final answer to 2 decimal places.)
How much would you have to invest today to receive the following? Use Appendix B or Appendix D for an approximate answer, but calculate your final answer using the formula and financial calculator methods.
e. $14,600 in 7 years at 13 percent. (Do not round intermediate calculations. Round your final answer to 2 decimal places.)
f. $18,800 in 18 years at 11 percent. (Do not round intermediate calculations. Round your final answer to 2 decimal places.)
g. $7,600 each year for 16 years at 14 percent. (Do not round intermediate calculations. Round your final answer to 2 decimal places.)
h. $51,000 each year for 50 years at 8 percent. (Do not round intermediate calculations. Round your final answer to 2 decimal places.)
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