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 $570 four 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 $570 four years from now at 4 percent.(Round your FV factor to 3 decimal places and final answer to 2 decimal places.)
Future value$
b.The future value of $675 saved each year for 9 years at 6 percent.(Round your FV factor to 3 decimal places and final answer to 2 decimal places.)
Future value$
c.The amount a person would have to deposit today (present value) at a 5 percent interest rate to have $1,600 five years from now.(Round your PV factor to 3 decimal places and final answer to 2 decimal places.)
Deposit$
d.The amount a person would have to deposit today to be able to take out $500 a year for 5 years from an account earning 6 percent.(Round your PV factor to 3 decimal places and final answer to 2 decimal places.)
Deposit$
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Management Accounting Information for creating and managing value
Authors: Kim Langfield Smith, David Smith, Paul Andon, Ronald Hilton, Helen Thorne
8th edition
9781760420413 , 978-1760420406
