Using time value of money tables, calculate the following. (Exhibit 1-A, Exhibit 1-B, Exhibit 1-C, Exhibit 1-D)Note: Use appropriate factor(s) from the tables provided.The future value of $500 six years from now at 5 percent.The future value of $600 saved each year for 10 years at 7 percent.The amount a person would have to deposit today (present value) at an interest rate of 7 percent to have $800 five years from now.The amount a person would have to deposit today to be able to take out $400 a year for 8 years from an account earning 7 percent.

From the future value of $1 table (Exhibit 1-A), we find the factor for 6 years at 5% interest rate.…

Answered: Using time value of money tables,…

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

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Question

Using time value of money tables, calculate the following. (Exhibit 1-A, Exhibit 1-B, Exhibit 1-C, Exhibit 1-D)

Note: Use appropriate factor(s) from the tables provided.

The future value of $500 six years from now at 5 percent.
The future value of $600 saved each year for 10 years at 7 percent.
The amount a person would have to deposit today (present value) at an interest rate of 7 percent to have $800 five years from now.
The amount a person would have to deposit today to be able to take out $400 a year for 8 years from an account earning 7 percent.

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