Use a financial calculator or computer software program to answer the following questions: a. What would be
Question:
Use a financial calculator or computer software program to answer the following questions:
a. What would be the future value (FV) of $15,555 invested now if it earns interest at 14.5 percent for seven years?
b. What would be the FV of $19,378 invested now if the money remains deposited for eight years and the annual interest rate is 18 percent?
Future ValueFuture value (FV) is the value of a current asset at a future date based on an assumed rate of growth. The future value (FV) is important to investors and financial planners as they use it to estimate how much an investment made today will be worth...
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Step by Step Answer:
a Using a financial calculator enter 15555 and press PV enter 145 a...View the full answer
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Related Book For 
Introduction to Finance Markets Investments and Financial Management
ISBN: 978-1118492673
15th edition
Authors: Melicher Ronald, Norton Edgar
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