Problem 4-2 Calculating Future Values [LO 1]

For each of the following, compute the future value: (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.)

Present Value				Years			Interest Rate				Future Value
	$	3,050			8			16	%			$
		8,653			21			8
		91,305			15			9
		229,382			31			4

Problem 4-3 Calculating Present Values [LO 2]

For each of the following, compute the present value: (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.)

Present Value		Years			Interest Rate				Future Value
$			9			7	%			$	18,428
			1			12					42,617
			13			15					801,382
			18			14					658,816

Problem 4-4 Calculating Interest Rates [LO 3]

Solve for the unknown interest rate in each of the following: (Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.)

Present Value				Years			Interest Rate				Future Value
	$	740			7				%			$	1,431
		930			8								1,768
		17,500			19								144,332
		72,800			22								317,815

Problem 4-5 Calculating the Number of Periods [LO 4]

Solve for the unknown number of years in each of the following: (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.)

Present Value				Years			Interest Rate				Future Value
	$	1,150						12	%			$	2,005
		2,841						10					4,600
		34,605						15					396,120
		34,300						22					225,428

Problem 5-55 Amortization with Equal Payments [LO 3]

Prepare an amortization schedule for a three-year loan of $117,000. The interest rate is 8 percent per year, and the loan calls for equal annual payments. How much total interest is paid over the life of the loan? (Leave no cells blank. Enter '0' where necessary. Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.)

Year	Beginning Balance	Total Payment	Interest Payment	Principal Payment	Ending Balance
1	$	$	$	$	$
2
3
		Total interest	$