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Using time value of money tables (Exhibit 1-A, Exhibit 1-8, Exhibit 1-C. Exhibit 1-D), calculate the following. a. The future value of $490 four years
Using time value of money tables (Exhibit 1-A, Exhibit 1-8, Exhibit 1-C. Exhibit 1-D), calculate the following. a. The future value of $490 four years from now at 10 percent. (Round your factor to 3 decimal places and final answer to 2 decimal places.) Answer is complete but not entirely correct. Future value 657.00 b. The future value of $275 saved each year for 9 years at 6 percent. (Round your factor to 3 decimal places and final answer to 2 decimal places.) Answer is complete but not entirely correct. Future value S 8,289.87 c. The amount a person would have to deposit today (present value) at a 9 percent interest rate to have $2,300 five years from now. (Round your factor to 3 decimal places and final answer to 2 decimal places.) Deposit d. The amount a person would have to deposit today to be able to take out $600 a year for 7 years from an account earning 6 percent. (Round your factor to 3 decimal places and final answer to 2 decimal places.) Deposit
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