Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

What is the future value in five years of $1,500 invested at an interest rate of 4.75%?

What is the future value in five years of $1,500 invested at an interest rate of 4.75%?     
             
What is the future value of a single payment with the following characteristics?     
PV$950           
NPER6years          
RATE5%           
             
What is the present value of $62,000 in six years, if the relevant interest rate is 8.1%?     
             
What is the present value of a single payment with the following characteristics?     
NPER11years          
RATE7%           
FV$10,000           
             
The present value of a payment is $4000.  The future value of that payment in four years will be $4800.   What is the annual rate of return?
             
What is the annual rate of return of a single payment with the following characteristics?    
PV$1,000           
NPER12years          
FV$10,000           
             

Step by Step Solution

3.32 Rating (158 Votes )

There are 3 Steps involved in it

Step: 1

Future Value FV PV x 1 rn Where FV Future Value PV Present Value r Annual rate of return interest ra... blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Smith and Roberson Business Law

Authors: Richard A. Mann, Barry S. Roberts

15th Edition

1285141903, 1285141903, 9781285141909, 978-0538473637

More Books

Students also viewed these Accounting questions

Question

=+b) Should the company send the fact-finding trip? Explain.

Answered: 1 week ago

Question

What does stickiest refer to in regard to social media

Answered: 1 week ago

Question

Identify and describe the principal kinds of equity securities.

Answered: 1 week ago