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Single Payments (Use of FIP or PIF Factors) 2.9 State the amount accumulated by each of the following present investments: (a) $7,000 in 8 years

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Single Payments (Use of FIP or PIF Factors) 2.9 State the amount accumulated by each of the following present investments: (a) $7,000 in 8 years at 9% compounded annually. (b) $1,250 in 12 years at 4% compounded annually. 74 CHAPTER 2 Time Value of Money (C) $5,000 in 31 years at 7% compounded annually. (d) $20,000 in 7 years at 6% compounded annually

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