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Now it's time for you to practice what you've learned. Consider a dollar amount of $1,000 today, along with a nominal interest rate of 15.00%.
Now it's time for you to practice what you've learned. Consider a dollar amount of $1,000 today, along with a nominal interest rate of 15.00%. You are interested in calculating the future value of this amount after 8 years. For all future value calculations, enter $1,000 (with the negative sign) for PV and 0 for PMT. The future value of $1,000, compounded annually for 8 at the given nominal interest rate, is approximately Using your financial calculator, the future value of $1,000, compounded semi-annually for 8 at the given nominal interest rate, is approximately Using your financial calculator, the future value of $1,000, compounded quarterly for 8 at the given nominal interest rate, is approximately Using your financial calculator, the future value of $1,000, compounded monthly for 8 at the given nominal interest rate, is approximately Hint: Assume that there are 365 days in a year. Using your financial calculator, the future value of $1,000, compounded semi-annually for 8 at the given nominal interest rate, is approximately Using your financial calculator, the future value of $1,000, compounded quarterly for 8 at the given nominal interest rate, is approximately Using your financial calculator, the future value of $1,000, compounded monthly for 8 at the given nominal interest rate, is approximately Hint: Assume that there are 365 days in a year. Using your financial calculator, the future value of $1,000, compounded daily for 8 at the given nominal interest rate, is approximately
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