Question
Using the appropriate interest table, answer the following questions. (Each case is independent of the others). 1) What is the future value of 24 periodic
Using the appropriate interest table, answer the following questions. (Each case is independent of the others).
1) What is the future value of 24 periodic payments of $4,390 each made at the beginning of each period and compounded at 8%? (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to 0 decimal places, e.g. 458,581.)
2) What is the present value of $2,770 to be received at the beginning of each of 28 periods, discounted at 5% compound interest? (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to 0 decimal places, e.g. 458,581.)
3) What is the future value of 17 deposits of $3,710 each made at the beginning of each period and compounded at 10%? (Future value as of the end of the 17th period.) (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to 0 decimal places, e.g. 458,581.)
4) What is the present value of 6 receipts of $2,810 each received at the beginning of each period, discounted at 9% compounded interest? (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to 0 decimal places, e.g. 458,581.)
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