Given,
Annual investment (A) = $1400
Interest rate (r) = 6% or 0.06
No. of years (n) = 18 years
Solution :-
Future value = A/r
[(1 + r)n - 1]
= $1400/0.06 x [(1 + 0.06)18 - 1]
= $23333.3333333 x [(1.06)18 - 1]
= $23333.3333333 x [2.8543391528 - 1]
= $23333.3333333 x 1.8543391528 = $43268
Thus, option 'B' is correct.
If the current rate of interest is 6%, then the future value (FV) of an investment...
f the current rate of interest is 8% APR, then the present value of an investment that pays $250 per quarter and lasts 20 years is closest to: a.$18,519 b.$48,443 c.$9936 d.$20,000
Calculate, to the nearest cent, the future value FV of an investment of $10,000 at the stated interest rate after the stated amount of time. 7.5% per year, compounded daily (assume 365 days/year), after 12 years
What is the future value (FV) of $40,000 in five years, assuming the interest rate is 4% per year? O A. $48,666 O B. $41,366 OC. $26,000 OD. $43,800
What is the future value (FV) of $60,000 in thirty years, assuming the interest rate is 4% per year? a. $39,000 b. $165,413 c. $194,604 d. $175,143
Calculate, to the nearest cent, the future value FV of an investment of $10,000 at the stated interest rate after the stated amount of time. HINT (See Quick Examples 1 and 2.] 7.5% per year, compounded daily (assume 365 days/year), after 12 years FV = $ Need Help? Read It Watch It Talk to a Tutor . +-/1 points WaneFM7 2.2.012. Calculate the present value PV of an investment that will be worth $1,000 at the stated interest rate after...
Calculate the future value of $9,000 in a. 4 years at an interest rate of 9% per year. b. 8 years at an interest rate of 9% per year. c. 4 years at an interest rate of 18% per year. d. Why is the amount of interest earned in part (a) less than half the amount of interest earned in part (b)? a. Calculate the future value of $9,000 in 4 years at an interest rate of 9% per year....
An annuity pays $49 per year for 13 years. What is the future value(FV) of this annuity at the end of those 13 years, given that the discount rate is 8% a. $631.96 b. $1,474.58 c. $1,053.27 d. $1,263.92
FV is future value
2. Calculate the FV in dollars if a. Present value = £575,000. b. Exchange Rate = $1.30/1£ c. Time frame = 10 years. d. Interest rate = 7%.
Future Value of Account A Note: Account A pays simple interest. Future Value Principal + Interest Principal + [(Principal x Interest Rate) x Investment Period] $2,000 + [($2,000 x 6%) x 3 years] Future Value of Account X Note: Account X pays compound interest. Future Valuex = Present Value x Interest Rate Factor Present Value x (1 + Interest Rate)N $2,000 (1 + 0.06)3 $ To find the interest rate factor, you can use four different ways, including multiplying it...
$600 $1200 $1800 6) At an annual interest rate of 7%, the future value of this timeline in year 3 is closest to: A) $3295 B) $3600 C) $3770 D) $4035