Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Present and future value tables of 1 at 9% are presented below. PV of $1 FV of $1 PVA of $1 FVAD of $1 FVA
Present and future value tables of 1 at 9% are presented below.
| PV of $1 | FV of $1 | PVA of $1 | FVAD of $1 | FVA of $1 | |
| 1 | 0.91743 | 1.09000 | 0.91743 | 1.0900 | 1.0000 |
| 2 | 0.84168 | 1.18810 | 1.75911 | 2.2781 | 2.0900 |
| 3 | 0.77218 | 1.29503 | 2.53129 | 3.5731 | 3.2781 |
| 4 | 0.70843 | 1.41158 | 3.23972 | 4.9847 | 4.5731 |
| 5 | 0.64993 | 1.53862 | 3.88965 | 6.5233 | 5.9847 |
| 6 | 0.59627 | 1.67710 | 4.48592 | 8.2004 | 7.5233 |
| How much must be invested now at 9% interest to accumulate to $24,000 in four years? |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Principles Of Auditing
Authors: Vasuhi M
1st Edition
6206150747, 978-6206150749
