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Use future value and present value calculations (use Exhibit 1-A, Exhibit 1-B, Exhibit 1-C) to determine the following: a. The future value of a $950 savings deposit after seven years at an annual interest rate of 6 percent. (Round FV factor to 3 decime places and final answer to 2 decimal places.) Future value $ 1,428 45 b. The future value of saving $2,500 a year for four years at an annual interest rate of 5 percent. (Round discount factor to 3 decima places and final answer to 2 decimal places.) Future value

Use future value and present value calculations (use Exhibit 1-A, Exhibit 1-B, Exhibit 1-C) to determine the following: a. The future value of a $950 savings deposit after seven years at an annual interest rate of 6 percent. (Round FV factor to 3 decime places and final answer to 2 decimal places.) Future value $ 1,428 45 b. The future value of saving $2,500 a year for four years at an annual interest rate of 5 percent. (Round discount factor to 3 decima places and final answer to 2 decimal places.) Future value

Essentials Of Investments
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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Use future value and present value calculations (use Exhibit 1-A, Exhibit 1-B, Exhibit 1-C) to determine the following: a. The future value of a $950 savings deposit after seven years at an annual interest rate of 6 percent. (Round FV factor to 3 decimal places and final answer to 2 decimal places.) Future value $ Future value 1,428 45 b. The future value of saving $2,500 a year for four years at an annual interest rate of 5 percent. (Round discount factor to 3 decimal places and final answer to 2 decimal places.)
Transcribed Image Text:Use future value and present value calculations (use Exhibit 1-A, Exhibit 1-B, Exhibit 1-C) to determine the following: a. The future value of a $950 savings deposit after seven years at an annual interest rate of 6 percent. (Round FV factor to 3 decimal places and final answer to 2 decimal places.) Future value $ Future value 1,428 45 b. The future value of saving $2,500 a year for four years at an annual interest rate of 5 percent. (Round discount factor to 3 decimal places and final answer to 2 decimal places.)
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