Hardev 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 $950 savings deposit after seven years at an annual interest rate of 6 percent. (Round FV factor to 3 decimalplaces and final answer to 2 decimal places.)Future value$Future value1,428 45b. 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 decimalplaces and final answer to 2 decimal places.)

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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

Pfin (with Mindtap, 1 Term Printed Access Card) (mindtap Course List)

7th Edition

ISBN:9780357033609

Author:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk

Publisher:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk

Chapter4: Managing Your Cash And Savings

Section: Chapter Questions

Problem 7FPE: Calculating interest earned and future value of savings account. If you put 6,000 in a savings...

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Subject:- finance