Future value = Present value * [1 + (R/ n) ] n*
Present value = $2,400
R = rate of interest = 12%
n = number of compounding periods = 4
F.V = $2,400 * [1 + (0.12/4)]4*7
F.V = $2,400 * [1.03]28
FV = $2,400 * 2.2879277
FV = $5,491.03
Interest = $5,491.03 - $2,400 = $3,091.03
Interest = $3,091.03
Complete the following using the future value formula or financial calculator. (Do not round intermediate calculations....
Complete the following using the future value formula or financial calculator (Do not round intermediate calculations. Round your final answers to the nearest cent.) Amount Interest Time 5 years Principal $ 4,000 Rate Compounded 12 % Quarterly
Complete the following using the future value formula or financial calculator (Do not round intermediate calculations. Round your final answers to the nearest cent.) Amount Interest Time 5 years Principal $ 4,000 Rate Compounded 12 % Quarterly
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ak: Chapter 19 Saved Complete the following using the future value formula or financial calculator. (Do not round int final answers to the nearest cent.) Amount Interest Time Principal $ 17200 Rate Compounded 2% Annually 11 years Prev 1 of 13 Ne * a Search ACKARD
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