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NIIPlease answer the full 8 questions CALCULATE THE FOLLOWING AMOUNTS USING FUTURE VALUE AND/OR PRESENT VALUE TABLES 1.If an accumulation of $100 is desired at
NIIPlease answer the full 8 questions
CALCULATE THE FOLLOWING AMOUNTS USING FUTURE VALUE AND/OR PRESENT VALUE TABLES 1.If an accumulation of $100 is desired at the end of six years, what bank deposit must be made now to accomplish that goal, assuming 14 percent interest compounded annually? ANSWER 2.A deposit of $400 made at the end of every six months for six years would grow to what amount, assuming a 10 percent interest compounded ANSWER = 3.What is the present value of receiving $100 at the end of each year for 6 years assuming 6 percent interest compounded annually? ANSWER = What amount must be deposited at the bank today to grow to $6000 in eight years, assuming 12 percent interest compounded annually? ANSWER = 5.How much will $3,000 grow to become, assuming it is invested for 2 with interest of 12% compounded quarterly? years. ANSWER = 6.Mary is making bank deposits of S3,000 at the end of each year for five years, for purposes of buying a car. Assuming an interest rate of 9%, how expensive a car will she be able to purchase? ANSWER 7.Shelby Co. bought out the contract of a member of top management fora payment of $90,000 per year for four years at 8% beginning January 1, 20XX. What is the cost (present value) of the buyout? ANSWER = 8.Brian Horn is planning to purchase a house that will cost $50,000. Presently he has $29,815 on which he can earn 9 percent annual interest. How long will he have to wait to purchase the houseStep by Step Solution
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