Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

please answer the following in the photo. Thanks Compute the future value of $500 at an interest rate of 12 percent 15, 20, and 30

please answer the following in the photo. Thanks
image text in transcribed
Compute the future value of $500 at an interest rate of 12 percent 15, 20, and 30 years into the future. What would the future value be over these time horizons if the interest rate were 6 percent? Instructions: Enter your responses rounded to the nearest penny (two decimal places). Do not round intermediate calculations. At an interest rate of 12 percent: Future value in 15 years = $ Future value in 20 years $ Future value in 30 years At an interest rate of 6 percent: Future value in 15 years = $ Future value in 20 years = $ Future value in 30 years = $ Hannt internet rates show that as the time horizon lenathens, the future value

Step by Step Solution

There are 3 Steps involved in it

Step: 1

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

Step: 3

blur-text-image

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

The F And I Revolution Finance Reimagined

Authors: Michael A Bennett

1st Edition

1507777221, 978-1507777220

More Books

Students also viewed these Finance questions

Question

6. Identify seven types of hidden histories.

Answered: 1 week ago

Question

What is human nature?

Answered: 1 week ago