Find the future value of the following investment. Frequency of Conversion Nominal Principal Rate Time $8700.00 6.3% annually 4 years ..... The future value is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)

Find the future value of the following investment. Frequency of Conversion Nominal Principal Rate Time $8700.00 6.3% annually 4 years ..... The future value is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)

EBK CFIN

6th Edition

ISBN:9781337671743

Author:BESLEY

Publisher:BESLEY

Chapter4: Time Value Of Money

Section: Chapter Questions

Problem 15PROB

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Concept explainers

Loanable Funds Theory

The loanable funds theory is a neoclassical theory that determines the interest rate where the demand for loanable investments and supply of loanable funds intersect. To determine the interest rate, this theory employs linear regression and a demand curve. At the equilibrium point, demand for borrowings and demand for the issuance of borrowing funds are inextricably linked. This point of equilibrium should equalize demand and the supply of money available for borrowing.

Question

Find the future value of the following investment.
Frequency of
Conversion
Nominal
Principal
Rate
Time
$8700.00
6.3%
annually
4 years
.....
The future value is $
(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)

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