Homework Help is Here – Start Your Trial Now!
Business
Accounting
Present value: $12,988.90 Length of time: 5 years Rate: 8% Compounded: Quarterly Period used: 20 Rate used: 2% FV factor used: Future value:

Present value: $12,988.90 Length of time: 5 years Rate: 8% Compounded: Quarterly Period used: 20 Rate used: 2% FV factor used: Future value:

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
See similar textbooks
icon
Related questions
Question

a1

Present value: $12,988.90 Length of time: 5 years Rate: 8% Compounded: Quarterly Period used: 20 Rate used: 2% FV factor used: Future value: Present value Find the future value. (Use the Table 12.1.) (Do not round intermediate calculations. Round the "FV factor" to 4 decimal places and final answer to the nearest cent.) S 12,988.90 Length of time 5 years Rate 3 8% c Compounded Quarterly On FV Table 12.1 Period used 20 Rate used FV factor used Future value
Transcribed Image Text:Present value: $12,988.90 Length of time: 5 years Rate: 8% Compounded: Quarterly Period used: 20 Rate used: 2% FV factor used: Future value: Present value Find the future value. (Use the Table 12.1.) (Do not round intermediate calculations. Round the "FV factor" to 4 decimal places and final answer to the nearest cent.) S 12,988.90 Length of time 5 years Rate 3 8% c Compounded Quarterly On FV Table 12.1 Period used 20 Rate used FV factor used Future value
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 3 steps with 1 images

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Future Value
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS