Question

For each of the following, compute the future value: (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) Present Value Years Interest Rate Future Value $ 1,800 10 14 % $ 7,852 8 8 67,355 15 13 174,796 6 5

Answer 1

$6673

$14,533.50

$421,256.38

$234,243.36

Step-by-step explanation:

The formula for determining future value is :

The formula for calculating future value:

FV = P (1 + r)^n

FV = Future value

P = Present value

R = interest rate

N = number of years

$1,800 x (1.14)^10 = $6673

$7,852 x (1.08)^8 = $14,533.50

$67,355 x (1.13)^15 = $421,256.38

$174,796 x (1.05)^6 = $234,243.36