FINANCIAL ACCOUNTING LOOSELEAF
2nd Edition
ISBN: 9781119493631
Author: Kimmel
Publisher: WILEY
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Chapter AG, Problem G.5BE
To determine
Future Value: The future value is value of present amount compounded at an interest rate until a particular future date. The following formula is used to calculate the future value of an amount:
Future value of an annuity refers to an amount received or paid equally for a specified number of periods with equal intervals for the investment made.
To Compute: The future value of a single amount and of an annuity amount (if the interest compounded annually).
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