Question
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 $520 five
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 $520 five years from now at 8 percent. (Round your factor to 3 decimal places and final answer to 2 decimal places.) Future value b. The future value of $425 saved each year for 8 years at 7 percent. (Round your factor to 3 decimal places and final answer to 2 decimal places.) Future value c. The amount a person would have to deposit today (present value) at a 6 percent interest rate to have $2,400 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 $500 a year for 7 years from an account earning 7 percent. (Round your factor to 3 decimal places and final answer to 2 decimal places.) Deposit
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