Using the future value tables to answer the following questions.
?
Required:
1) What is the value on January 1, 2023, of $75,000 deposited on January 1, 2016, which accumulates interest at 14% annually?
?
2) What is the value on January 1, 2021, of $15,000 deposited on July 1, 2016, which accumulates interest at 16% compounded quarterly?
?
3) What is the compound interest on an investment of $10,000 left on deposit for 7 years at 8% compounded annually?
What will be an ideal response?
1)
?FV = $187,670
?
2)
?FV = $35,549
?
3)
Future value - Present value = Compound interest
$7,138 = CI
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A. v
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B. uv + (
)(
)
C. uv - (
)(
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