Question
You invest $4,400 for three years at 9 percent. a. What is the value of your investment after one year? Multiply $4,400 1.09. b. What
You invest $4,400 for three years at 9 percent.
a. What is the value of your investment after one year? Multiply $4,400 1.09.
b. What is the value of your investment after two years? Multiply your answer to part a by 1.09. (Round your answer to 2 decimal places.)
c. What is the value of your investment after three years? Multiply your answer to part b by 1.09. This gives your final answer. (Round your answer to 2 decimal places.)
What is the present value of the following? Use Appendix B as an approximate answer, but calculate your final answer using the formula and financial calculator methods.
d. $8,300 in 10 years at 9 percent? (Do not round intermediate calculations. Round your final answer to 2 decimal places.)
e. $17,000 in 5 years at 8 percent? (Do not round intermediate calculations. Round your final answer to 2 decimal places.)
f. $26,700 in 14 years at 7 percent? (Do not round intermediate calculations. Round your final answer to 2 decimal places.)
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