Question

Determine the future value of the following single amounts (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) (Round your final answers to nearest whole dollar amount.): n = Future Value Invested Amount 10,500 13,000 26,000 $ 46,000 i = 5% 8% 11% 6% 15

Answer 1

Future value = Present Value ( 1   + r )ⁿ

1)Future value = 10500 ( 1   + 0.05 )¹²

Future value = 10500(1.05)¹²

Future value = 10500 ( 1.795 )  

Future value = $ 18848 (approx)

2)Future value = 13000 ( 1   + 0.08 )¹⁰

Future value = 13000(1.08)¹⁰

Future value = 13000 ( 2.158)  

Future value = $ 28054 (approx)

3)Future value = 26000( 1   + 0.11 )¹⁵

Future value = 26000(1.11)¹⁵

Future value = 26000 ( 4.784 )  

Future value = $ 124384(approx)

4)Future value = 46000 ( 1   + 0.06 )⁹

Future value = 46000(1.06)⁹

Future value = 46000 ( 1.689)  

Future value = $ 77694 (approx)