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CALCULATE THE FOLLOWING AMOUNTS USING FUTURE VALUE AND/OR PRESENT VALUE TABLES.
CALCULATE THE FOLLOWING AMOUNTS USING FUTURE VALUE AND/OR PRESENT VALUE TABLES.
1.If an accumulation of $100 is desired at the end of six years, what bank deposit must be made now to accomplish that goal, assuming 14 percent interest compounded annually?
ANSWER = _________________
2.A deposit of $400 made at the end of every six months for six years would grow to what amount, assuming a 10 percent interest compounded semiannually?
ANSWER = _________________
3.What is the present value of receiving $100 at the end of each year for 6 years assuming 6 percent interest compounded annually?
ANSWER = _________________
4.What amount must be deposited at the bank today to grow to $6000 in eight years, assuming 12 percent interest compounded annually?
