We are investing $ 1 5 , 0 0 0 at an interest rate of 6 %

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Question:

We are investing $

15, 000

at an interest rate of

6 %,

compounded annually for a period of

12

years. We want to calculate the future value of this investment.

Present Value of $

1

: i

= 6 %,

= 12,

PV factor

= . 5066

Future Value of $

1

: i

= 6 %,

= 12,

FV factor

= 2.0122

Present value of an Annuity: i

= 6 %,

= 12,

PV factor

= 4.1114

Future Value of an Annuity: i

= 6 %,

= 12,

FV factor

= 8.1152

What is the correct factor we should use to calculate?

Related Book For answer-question

Contemporary Engineering Economics

ISBN: 978-0136118480

5th edition

Authors: Chan S. Park

See More Books

Posted Date: May 08, 2024 07:25 AM

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We are investing $ 1 5 , 0 0 0 at an interest rate of 6 %

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Future valueFVF... View the full answer

Contemporary Engineering Economics

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