Use Future Value Tables or your calculator to complete the requirements below.
Determine the size of annual cash flows for an annuity of nine cash flows that will produce a future value of $79,428.10 at an interest rate of 9% per year. Round your answer to the nearest cent.
THE ANSWER IS NOT 6,100
Use Future Value Tables or your calculator to complete the requirements below. Determine the size of...
Exercise A3-11 Practice with Tables Use Future Value Tables and Present Value Tables, or your calculator, to complete the requirements below. Required: Round your answers to the nearest cent. a. Determine the future value of a single cash flow of $5,000 that earns 7% interest compounded annually for 10 years. $ b. Determine the future value of an annual annuity of 10 cash flows of $500 each that earns 7% compounded annually. $ c. Determine the present value of $5,000...
Exercise A3-17 Present Values Use Present Value Tables or your calculator to complete the requirements below. Required: a. Determine the present value of a single $14,000 cash flow in 7 years if the interest (discount) rate is 8% per year. Round your answer to the nearest cent. $ 8,169 X b. Determine the number of periods for which $5,820 must be invested at an annual interest (discount) rate of 7% to produce an investment balance of $10,000. Round you answer...
Exercise A3-20 (Algorithmic) Future Values of an Annuity Use Future Value Tables or your calculator to complete the requirements below. On December 31, 2020, you sign a contract to make annual deposits of $5,200 in an investment account that earns 10%. The first deposit is made on December 31, 2020. Required: 1. Calculate what the balance in this investment account will be just after the seventh deposit has been made if interest is compounded annually. Round your answer to the...
Exercise A3-14 Future Values and Long-Term Investments Use Future Value Tables or your calculator to complete the requirement below. Portman Corporation engaged in the following transactions during 2020: On January 1, 2020, Portman deposited $12,000 in a certificate of deposit paying 6% interest compounded semiannually (3% per 6-month period). The certificate will mature on December 31, 2023. On January 1, 2020, Portman established an account with Lee County Bank. Portman will make quarterly payments of $2,500 to Lee beginning on...
1.Future Value: Ordinary Annuity versus Annuity Due What is the future value of a 3%, 5-year ordinary annuity that pays $250 each year? Round your answer to the nearest cent. $ If this were an annuity due, what would its future value be? Round your answer to the nearest cent. $ 2. Present and Future Value of an Uneven Cash Flow Stream An investment will pay $100 at the end of each of the next 3 years, $400 at the...
1. Calculate the future value of a 23-year annuity with payments of $9,000 each year and an interest rate of 9% compounded annually. Round your answer to the nearest cent. 2. An annuity consists of quarterly payments of $1,500 each for 10 years at an interest rate of 6% compounded quarterly. Compute the future value of the annuity. Round your answer to the nearest cent. 3. Calculate the amount of each monthly payment in a 1-year annuity that has a...
Fill in the tables Use present value tables to compute the present value of $660,000 to be paid in 20 years, with an interest rate of 8 percent. (Future Value of $1, Present Value of $1, Future Value Annuity of $1, Present Value Annuity of $1) (Use appropriate factor(s) from the tables provided and final answer to the nearest whole dollar amount.) Table Function: Future Value: Present Value: Use present value tables to compute the present value of 20 equal...
Using a financial calculator or spreadsheet, calculate the following: a. The future value of a deposit of $380 left in an account paying 8% annual interest for 15 years. b. The future value at the end of 9 years of an annual end-of-year deposit of $500 into an account paying 11% annual interest a. The future value, FV, on a deposit of $380 left in an account paying 8% annual interest for 15 years is $ 1205.42. (Round to the...
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 7 years Principal $ 2,400 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 12 years Principal $ 16,700 Rate Compounded 1.5% Annually