Problem 9-11 (Algo) Future value [LO9-2] If you invest $10,000 per period for the following number of periods, how much would you have in each of the following instances? Use Appendix C for an approximate answer, but calculate your final answer using the formula and financial calculator methods. a. In 9 years at 10 percent? Note: Do not round intermediate calculations. Round your final answer to 2 decimal places. Answer is complete but not entirely correct. Future value $262,211.11 b. In 50 years at 8 percent? Note: Do not round intermediate calculations. Round your final answer to 2 decimal places. Answer is complete but not entirely correct. Future value $14,499,140.46
Problem 9-11 (Algo) Future value [LO9-2] If you invest $10,000 per period for the following number of periods, how much would you have in each of the following instances? Use Appendix C for an approximate answer, but calculate your final answer using the formula and financial calculator methods. a. In 9 years at 10 percent? Note: Do not round intermediate calculations. Round your final answer to 2 decimal places. Answer is complete but not entirely correct. Future value $262,211.11 b. In 50 years at 8 percent? Note: Do not round intermediate calculations. Round your final answer to 2 decimal places. Answer is complete but not entirely correct. Future value $14,499,140.46
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
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![Problem 9-11 (Algo) Future value [LO9-2]
If you invest $10,000 per period for the following number of periods, how much would you have in each of the following instances?
Use Appendix C for an approximate answer, but calculate your final answer using the formula and financial calculator methods.
a. In 9 years at 10 percent?
Note: Do not round intermediate calculations. Round your final answer to 2 decimal places.
Answer is complete but not entirely correct.
Future value
$262,211.11
b. In 50 years at 8 percent?
Note: Do not round intermediate calculations. Round your final answer to 2 decimal places.
Answer is complete but not entirely correct.
Future value
$14,499,140.46](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fe6532981-1548-4341-87c3-2be2579819ad%2Fca773c05-c2a7-40c2-a84c-46b54b672b7b%2Fpfn1cpj_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Problem 9-11 (Algo) Future value [LO9-2]
If you invest $10,000 per period for the following number of periods, how much would you have in each of the following instances?
Use Appendix C for an approximate answer, but calculate your final answer using the formula and financial calculator methods.
a. In 9 years at 10 percent?
Note: Do not round intermediate calculations. Round your final answer to 2 decimal places.
Answer is complete but not entirely correct.
Future value
$262,211.11
b. In 50 years at 8 percent?
Note: Do not round intermediate calculations. Round your final answer to 2 decimal places.
Answer is complete but not entirely correct.
Future value
$14,499,140.46
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