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Using Exhibit 1-B, complete the following table. (Round FVA factors to 3 decimal places and final answers to the nearest we dollar.) Annual Deposit Rate
Using Exhibit 1-B, complete the following table. (Round FVA factors to 3 decimal places and final answers to the nearest we dollar.) Annual Deposit Rate of Return Number of Years Investment Value at the End of Time Period Total Amount Total Amount of of Investment Earnings $ 2,200 5% 10 $ 2,200 9% 10 $ 2,200 7% 30 $ 2,200 11% 30 88 Five years ago, you purchased a $1,000 par value corporate bond with an interest rate of 6 percent. Today, comparable bonds are paying 7 percent. What is the approximate dollar price for which you could sell your bond? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Answer is not complete. Approximate market value
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