Required 1 Calculate the future value. On January 1, 2020, $30,000 is deposited into a savings account. Assuming a 4% interest rate, calculate the amount accumulated on January 1, 2023, if interest is compounded annually. N (period of time) | I (Interest) PV (Present Value FV (Future Value) PMT (Annuity) On January 1, 2020, $30,000 is deposited into a savings account. Assuming a 4% interest rate, calculate the amount accumulated on January 1, 2023, if interest is compounded semi-annually. N (period of time) I (Interest) PV (Present Value FV (Future Value) PMT (Annuity) Page 1 On January 1, 2020, $30,000 is deposited into a savings account. Assuming a 4% interest rate, calculate the amount accumulated on January 1, 2023, if interest is compounded quarterly. N (period of time) I (Interest) PV (Present Value FV (Future Value) PMT (Annuity)
Required 1 Calculate the future value. On January 1, 2020, $30,000 is deposited into a savings account. Assuming a 4% interest rate, calculate the amount accumulated on January 1, 2023, if interest is compounded annually. N (period of time) | I (Interest) PV (Present Value FV (Future Value) PMT (Annuity) On January 1, 2020, $30,000 is deposited into a savings account. Assuming a 4% interest rate, calculate the amount accumulated on January 1, 2023, if interest is compounded semi-annually. N (period of time) I (Interest) PV (Present Value FV (Future Value) PMT (Annuity) Page 1 On January 1, 2020, $30,000 is deposited into a savings account. Assuming a 4% interest rate, calculate the amount accumulated on January 1, 2023, if interest is compounded quarterly. N (period of time) I (Interest) PV (Present Value FV (Future Value) PMT (Annuity)
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:Required
1 Calculate the future value.
On January 1, 2020, $30,000 is deposited into a savings account. Assuming a 4% interest rate, calculate
the amount accumulated on January 1, 2023, if interest is compounded annually.
N (period of time)
| (Interest)
PV (Present Value
FV (Future Value)
PMT (Annuity)
On January 1, 2020, $30,000 is deposited into a savings account. Assuming a 4% interest rate, calculate
the amount accumulated on January 1, 2023, if interest is compounded semi-annually.
N (period of time)
| (Interest)
PV (Present Value
FV (Future Value)
PMT (Annuity)
Page 1
On January 1, 2020, $30,000 is deposited into a savings account. Assuming a 4% interest rate, calculate
the amount accumulated on January 1, 2023, if interest is compounded quarterly.
N (period of time)
| (Interest)
PV (Present Value
FV (Future Value)
PMT (Annuity)
2 In each of the three scenarios the FV should continue to increase. Explain why this passes the reasonablenes
test.
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