nearest dollar. 1. What is the value on January 1, 2027, of $75,000 deposited on January 1, 2020, which accumulates interest at 14% annually? $___________ 2. What is the value on January 1, 2025, of $15,000 deposited on July 1, 2020, which accumulates interest at 16% compounded quarterly?
nearest dollar. 1. What is the value on January 1, 2027, of $75,000 deposited on January 1, 2020, which accumulates interest at 14% annually? $___________ 2. What is the value on January 1, 2025, of $15,000 deposited on July 1, 2020, which accumulates interest at 16% compounded quarterly?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
EX.M.106
Use the future value tables to answer the following questions.
(Click here to access the PV and FV tables to use with this problem.)
Required:
Round your answers to the nearest dollar.
1. What is the value on January 1, 2027, of $75,000 deposited on January 1, 2020, which accumulates interest at 14% annually?
$___________
2. What is the value on January 1, 2025, of $15,000 deposited on July 1, 2020, which accumulates interest at 16% compounded quarterly?
$__________
3. How much interest will accumulate on an investment of $10,000 left on deposit for 7 years at 8% compounded annually?
$__________
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