Use the compound interest tables to answer the following questions. (Click here to access the PV and FV tables to use with this problem.) Required: Round your answers to the nearest dollar. a. How much will be accumulated on January 1, 2024 if $450,000 is deposited on January 1, 2020, and interest is compounded annually at 10%? $__________________ b. How much will be accumulated on December 31, 2028 if $80,000 is deposited on December 31, 2020, and the fund pays 9% interest compounded semiannually? $__________________ c. What will be on deposit on January 1, 2025 if $50,000 is deposited on January 1, 2020, in a fund that earns 16% interest compounded quarterly? $______________________
EX.M.104
Use the compound interest tables to answer the following questions.
(Click here to access the PV and FV tables to use with this problem.)
Required:
Round your answers to the nearest dollar.
a. How much will be accumulated on January 1, 2024 if $450,000 is deposited on January 1, 2020, and interest is compounded annually at 10%?
$__________________
b. How much will be accumulated on December 31, 2028 if $80,000 is deposited on December 31, 2020, and the fund pays 9% interest compounded semiannually?
$__________________
c. What will be on deposit on January 1, 2025 if $50,000 is deposited on January 1, 2020, in a fund that earns 16% interest compounded quarterly?
$______________________
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