Future value : Future value refers to that value of an investment which will worth at a specified time in future. In simple words, expression of current investment in future dollars on basis of particular rate of interest is known as future value. Present value Present value is the current worth of a future value of money deposited at a rate of interest. To determine: The amount needs to be deposit in the bank to get $100,000 in 6 years at interest rate of 4%.

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Answer 1

Question

Chapter 3, Problem 23P

Summary Introduction

Future value:

Future value refers to that value of an investment which will worth at a specified time in future. In simple words, expression of current investment in future dollars on basis of particular rate of interest is known as future value.

Present value

Present value is the current worth of a future value of money deposited at a rate of interest.

To determine:

The amount needs to be deposit in the bank to get $100,000 in 6 years at interest rate of 4%.

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Answer 2

Question

Chapter 3, Problem 23P

Summary Introduction

Future value:

Future value refers to that value of an investment which will worth at a specified time in future. In simple words, expression of current investment in future dollars on basis of particular rate of interest is known as future value.

Present value

Present value is the current worth of a future value of money deposited at a rate of interest.

To determine:

The amount needs to be deposit in the bank to get $100,000 in 6 years at interest rate of 4%.

Expert Solution & Answer

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Answer 3

Question

Chapter 3, Problem 23P

Summary Introduction

Future value:

Future value refers to that value of an investment which will worth at a specified time in future. In simple words, expression of current investment in future dollars on basis of particular rate of interest is known as future value.

Present value

Present value is the current worth of a future value of money deposited at a rate of interest.

To determine:

The amount needs to be deposit in the bank to get $100,000 in 6 years at interest rate of 4%.

Expert Solution & Answer

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Answer 4

Question

Chapter 3, Problem 23P

Summary Introduction

Future value:

Future value refers to that value of an investment which will worth at a specified time in future. In simple words, expression of current investment in future dollars on basis of particular rate of interest is known as future value.

Present value

Present value is the current worth of a future value of money deposited at a rate of interest.

To determine:

The amount needs to be deposit in the bank to get $100,000 in 6 years at interest rate of 4%.

Expert Solution & Answer

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Answer 5

Chapter 3, Problem 23P

Summary Introduction

Future value:

Future value refers to that value of an investment which will worth at a specified time in future. In simple words, expression of current investment in future dollars on basis of particular rate of interest is known as future value.

Present value

Present value is the current worth of a future value of money deposited at a rate of interest.

To determine:

The amount needs to be deposit in the bank to get $100,000 in 6 years at interest rate of 4%.

Answer 6

Chapter 3, Problem 23P

Summary Introduction

Future value:

Future value refers to that value of an investment which will worth at a specified time in future. In simple words, expression of current investment in future dollars on basis of particular rate of interest is known as future value.

Present value

Present value is the current worth of a future value of money deposited at a rate of interest.

To determine:

The amount needs to be deposit in the bank to get $100,000 in 6 years at interest rate of 4%.

Answer 7

Chapter 3, Problem 23P

Summary Introduction

Future value:

Future value refers to that value of an investment which will worth at a specified time in future. In simple words, expression of current investment in future dollars on basis of particular rate of interest is known as future value.

Present value

Present value is the current worth of a future value of money deposited at a rate of interest.

To determine:

The amount needs to be deposit in the bank to get $100,000 in 6 years at interest rate of 4%.

Answer 8

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Answer 9

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Answer 10

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Answer 11

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