Homework Answers
FV = PV * (1 + r)^n
PV = $1
r = 9%
n = 10
FV = 1 * (1 + 0.09)^10
FV = $2.3673636746
FV = $2.367
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Future value calculation without referring to the preprogrammed function on your financial calculator, use the basic...
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Continuous compounding For the case in the following table, find the future value at the end of the deposit period, assuming that interest is compounded continuously at the given nominal annual rate. (Click on the icon here in order to copy the contents of the data table below into a spreadsheet.) Amount of initial deposit $2,600 Nominal annual rate, r 8% Deposit period (years), n 11 The future value at the end of the deposit period is $ . (Round...
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