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Using time value of money tables or a financial calculator, calculate the following: (Use Exhibit 18-1, Exhibit 1B-2, Exhibit 18-3, Exhibit 18- 4) a) The
Using time value of money tables or a financial calculator, calculate the following: (Use Exhibit 18-1, Exhibit 1B-2, Exhibit 18-3, Exhibit 18- 4) a) The future value of $500 six years from now at 7 percent (Round time value factors to 3 decimal places and final answer to 2 decimal places. Omit the "$" sign in your response.) Future value $ b) The future value of $600 saved each year for 10 years at 9 percent. (Round time value factors to 3 decimal places and final answer to 2 decimal places. Omit the "$" sign in your response.) Future value $ c) The amount you have to deposit today (present value) at a 5 percent interest rate to have $1,100 five years from now. (Round time value factors to 3 decimal places and final answer to the nearest dollar amount. Omit the "$" sign in your response.) Amount to be deposited c) The amount you have to deposit today to be able to take out $800 a year for 8 years from an account earning 7 percent (Round time value factors to 3 decimal places and final answer to the nearest dollar amount. Omit the "S" sign in your response.) $ Amount to be deposited
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