Question

Compute the future value in year 9 of a $3,900 deposit in year 1, and another $3,400 deposit at the end of year 5 using a 9 percent interest rate. (Do not round intermediate calculations and round your final answer to 2 decimal places.) Future value

What is the future value of a $990 annuity payment over five years if interest rates are 9 percent? (Do not round intermediate calculations and round your final answer to 2 decimal places.) Future value

"What is the future value of a $550 annuity payment over six years if interest rates are 10 percent? (Do not round intermediat calculations and round your final answer to 2 decimal places.) Future value

What's the present value of a $980 annuity payment over six years if interest rates are 10 percent? (Do not round intermediate calculations and round your final answer to 2 decimal places.) Present value

What's the present value of a $540 annuity payment over five years if interest rates are 9 percent? (Do not round intermediate calculations and round your final answer to 2 decimal places.) Present value

Answer 1

1]	Future value = 3900*1.09^8+3400*1.09^4 =	$         12,570.37
2]	FV of annuity = 990*(1.09^5-1)/0.09 =	$           5,924.86
3]	FV of annuity = 550*(1.10^6-1)/0.10 =	$           4,243.59
4]	PV of annuity = 980*(1.1^6-1)/(0.10*1.1^6) =	$           4,268.16
5]	PV of annuity = 540*(1.09^5-1)/(0.09*1.09^5) =	$           2,100.41