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Put the answers in an excel table shown in the example please. If we wanted to determine the FV after 10 years, the PV and

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If we wanted to determine the FV after 10 years, the PV and FV would be separated by an FV factor of (1+10.04)110. So, the FV of $1,000 in 10 years is $1,480.24. Since PV and FV are separated in time, remember the following: -We can add sums of money only if they are being valued at the same point in time, either in the future or in the present. - For a given interest rate, the FV increases as the number of periods increases. - For a given number of periods, the FV increases as the interest rate increases. [7a2] You invest $2,000 today in a retirement account that pays 6% interest compounded semiannually. What is the total balance in the account 10 years from today? - Answer: $3,612.2225 - Solution: [2nd] [CE/C] 20[N] 3[I/Y] 2,000[+/][PV] 0[PMT] [CPT][FV] 20 for [N]=102 (semiannual) 3 for [I/Y]=6/2 [7a3] You invest $2,000 today in a retirement account that pays 6% interest compounded quarterly. What is the total balance in the account 10 years from today? - Answer: $3,628.0368 - Solution: [2nd] [CE/C] 40 [N] 1.5[I/Y] 2,000[+/][PV] 0 [PMT] [CPT][FV] 40 for [N]=104 (quarters) 1.5 for [I/Y]=6/4 [7a4] You invest $2,000 today in a retirement account that pays 6% interest compounded monthly. What is the total balance in the account 10 years from today? - Answer: \$3,638.7935 - Solution: [2nd][CE/C] 120[N] 0.5[I/Y] 2,000[+/][PV] 0 [PMT] [CPT] [FV] 120 for [N]=1012 (months) 0.5 for [I/Y]=6/12

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