In questions a through d, indicate whether you would use the table for determining the future value of a single sum ( FVIF ), the present value of a single sum ( PVIF ), the future value of an annuity ( FVIFA), or the present value of an annuity ( PVIFA) a You want to know how much you must deposit...

In questions a through d, indicate whether you would use the table for determining the future value

Question:

In questions a through d, indicate whether you would use the table for determining the of a single sum ( FVIF ), the present value of a single sum ( PVIF ), the of an ( FVIFA), or the present value of an ( PVIFA).
a. You want to know how much you must deposit today to have $ 5,000 in five years.
b. You plan to contribute $ 300 per month to your company’s retirement plan and want to know how much you will have at retirement.
c. You received $ 500 as a gift for graduation, and you want to know how much it will be worth in three years if you deposit it in a savings account.
d. You must decide between accepting a lump-sum settlement and annual payments. Annuity
An annuity is a series of equal payment made at equal intervals during a period of time. In other words annuity is a contract between insurer and insurance company in which insurer make a lump-sum payment or a series of payment and, in return,... Future Value
Future value (FV) is the value of a current asset at a future date based on an assumed rate of growth. The future value (FV) is important to investors and financial planners as they use it to estimate how much an investment made today will be worth...