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Time Value of Money Concept The following situations involve the application of the time value of money concept. Use the full factor when calculating your

Time Value of Money Concept

The following situations involve the application of the time value of money concept. Use the full factor when calculating your results.

Use the appropriate present or future value table:

FV of $1,PV of $1,FV of Annuity of $1andPV of Annuity of $1

1.Janelle Carter deposited $9,840 in the bank on January 1, 2000, at an interest rate of 15% compounded annually. How much has accumulated in the account by January 1, 2017? Round to the nearest whole dollar.

$?

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