Future Value of an Investment Using the future value tables, solve the following. (Click here to access the time value of money tables to use with this problem.) Round your answers to two decimal places. Required: 1. What is the future value on December 31, 2020, of a deposit of $35,000 made on January 1, 2017, assuming interest of 10% compounded annually? 2. What is the future value on December 31, 2020, of a deposit of $10,000 made on January 1, 2017, assuming interest of 16% compounded quarterly? 3. What is the future value on December 31, 2020, of a deposit of $25,000 made on January 1, 2017, assuming interest of 12% compounded semiannually?
Future Value of an Investment Using the future value tables, solve the following. (Click here to access the time value of money tables to use with this problem.) Round your answers to two decimal places. Required: 1. What is the future value on December 31, 2020, of a deposit of $35,000 made on January 1, 2017, assuming interest of 10% compounded annually? 2. What is the future value on December 31, 2020, of a deposit of $10,000 made on January 1, 2017, assuming interest of 16% compounded quarterly? 3. What is the future value on December 31, 2020, of a deposit of $25,000 made on January 1, 2017, assuming interest of 12% compounded semiannually?
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Transcribed Image Text:Future Value of an Investment
Using the future value tables, solve the following.
(Click here to access the time value of money tables to use with this problem.)
Round your answers to two decimal places.
Required:
1. What is the future value on December 31, 2020, of a deposit of $35,000 made on January 1, 2017, assuming interest of 10% compounded annually?
2. What is the future value on December 31, 2020, of a deposit of $10,000 made on January 1, 2017, assuming interest of 16% compounded quarterly?
3. What is the future value on December 31, 2020, of a deposit of $25,000 made on January 1, 2017, assuming interest of 12% compounded semiannually?
$
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