Question
Using time value of money tables (Exhibit 1-A,Exhibit 1-B,Exhibit 1-C,Exhibit 1-D), calculate the following. a. The future value of $580 eight years from now at
Using time value of money tables (Exhibit 1-A,Exhibit 1-B,Exhibit 1-C,Exhibit 1-D), calculate the following.
a.The future value of $580 eight years from now at 6 percent.(Round your FV factor to 3 decimal places and final answer to 2 decimal places.)
Future value$
b.The future value of $725 saved each year for 7 years at 5 percent.(Round your FV factor to 3 decimal places and final answer to 2 decimal places.)
Future value$
c.The amount a person would have to deposit today (present value) at a 6 percent interest rate to have $2,600 five years from now.(Round your PV factor to 3 decimal places and final answer to 2 decimal places.)
Deposit$
d.The amount a person would have to deposit today to be able to take out $600 a year for 5 years from an account earning 5 percent.(Round your PV factor to 3 decimal places and final answer to 2 decimal places.)
Deposit$
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Payroll Accounting 2018
Authors: Bernard J. Bieg, Judith Toland
28th edition
1337291056, 978-1337291057, 1337291137, 9781337291132, 9781337516686 , 978-1337291040
