Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

You estimate that you can save $3,400 by selling your home yourself rather than using a real estate agent. What would be the future value

image text in transcribed

You estimate that you can save $3,400 by selling your home yourself rather than using a real estate agent. What would be the future value of that amount if invested for seven years at 4 percent? UseEXHIBIT 1-A.(Round FV factor to 3 decimal places and final answer to 2 decimal places.).

Future value?

?

image text in transcribed
Exhibit 1 -A Future Value (Compounded Sum) of $1 after a Given Number of Time Periods Period 2% 3% 5% 6% 10% 11% 1.01 1.11 1.188 1.093 1.125 1.158 1.191 1.225 1.26 1.295 1.368 1.17 1.216 1.31 1.518 1.062 1.194 1.265 1.34 1.419 1.501 1.587 1.677 1.772 1.87 1.072 1.316 1.714 1.828 2.076 co 2.144 2.305 0 1.094 1.195 1.305 1.423 2.172 .358 2.558 10 1.105 1.344 1.898 1.426 1.796 2.012 .252 2.518 2.813 3.138 3.498 13 1.138 1.294 1.886 2.133 3.066 2.261 15 1.346 1.558 1.801 2.079 2.759 3.172 3.642 4.177 4.785 1.873 2.54 3.426 5.311 2.292 2.693 5.895 18 1.196 1.702 2.026 .854 3.38 3.996 4.717 6.544 1.208 1.754 2.107 3.026 3.617 4.316 6.116 20 2.191 8.062 99 1 25 1.282 2.094 2.66 3.386 4.292 5.427 6.848 8.62 10.835 13.585 30 1.348 2.427 3.243 5.743 7.612 10.063 22.8 40 2.208 14.974 45.259 50 1.645 2.692 4.384 7.107 11.467 18.42 29.457 46.902 74.358 117.391 184.565 Period 14% 15% 16% 17% 18% 19% 20% 25% 30% 1.13 1.14 1.16 1.2 2 1.3 1.323 1.405 1.482 1.521 1.561 1.602 1.643 1.685 1.728 2.197 A 1.811 2.074 2.441 on 3.052 3.713 1.974 2.082 2.195 2.313 2.436 2.565 2.7 2.986 3.815 2.211 3.001 3.18 3.379 6.275 3.059 3.278 3.759 4.021 8.157 3.004 3.252 3.518 3.803 4.435 4.785 10.604 0 3.707 5.117 6.176 6.777 17.922 2 3.896 4.335 4.818 5.35 5.936 8.064 8.916 14.552 23.298 3 6.153 0.288 6.261 7.988 9.007 10.147 12.839 39.374 5 5.474 6.254 7.138 8.137 9.266 10.539 11.974 13.59 15.407 28.422 51.186 6 18.4 6.866 10.761 12.468 19.244 44.409 86.504 18 7.69 9.024 10.575 12.375 19.673 22.901 26.623 55.511 112.455 19 8.613 23.214 31.948 146.192 9.646 13.743 16.367 23.106 27.393 190.05 25 21.231 26.462 32.919 40.874 50.658 2.669 77.388 95.396 264.698 705.641 30 39.116 50.95 2619. 533.869 750.378 1469.772 7523.164 50 289.002 450.736 700.233 1083.657 1670.704 2566.215 3927.357 5988.914 9100.438 70064.923 497929.223

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Management for Public, Health and Not-for-Profit Organizations

Authors: Steven A. Finkler, Daniel L. Smith, Thad D. Calabrese, Robert M. Purtell

5th edition

1506326846, 9781506326863, 1506326862, 978-1506326849

More Books

Students also viewed these Finance questions

Question

At whose discretion is the decision to make a disaster declaration?

Answered: 1 week ago