Solve the following problem using either Table 11-1 or Table 11-2 from your text. When necessary, create new table factors. (Round new table factors to five decimal places, round dollars to the nearest cent and percents to the nearest hundredth of a percent) You wish to have $16,250 in 8 years. How much should you invest now at 6% interest, compounded annually in order to have $16,250, 8 years from now? $1,916.27 O $10,067.20 $10,195.41 O$12,871.46

Solve the following problem using either Table 11-1 or Table 11-2 from your text. When necessary, create new table factors. (Round new table factors to five decimal places, round dollars to the nearest cent and percents to the nearest hundredth of a percent) You wish to have $16,250 in 8 years. How much should you invest now at 6% interest, compounded annually in order to have $16,250, 8 years from now? $1,916.27 O $10,067.20 $10,195.41 O$12,871.46

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

Problem 1PS

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You estimate that you can save $9,000 by selling your home yourself rather than using a real estate agent. What would be the future value of that amount if invested for five years at 6 percent? I need help to use appropriate factor(s) from the tables provided when it comes to rounding the time value factor to 3 decimal places and final answer to 2 decimal places. Future value= ???
Can I have an answer for this one? I need solution
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