Using the future value tables, solve the following. Required: 1. What is the future value on December
Question:
Using the future value tables, solve the following.
Required:
1. What is the future value on December 31, 2023, of a deposit of $35,000 made on January 1, 2020, assuming interest of 10% compounded annually?
2. What is the future value on December 31, 2023, of a deposit of $10,000 made on January 1, 2020, assuming interest of 16% compounded quarterly?
3. What is the future value on December 31, 2023, of a deposit of $25,000 made on January 1, 2020, assuming interest of 12% compounded semiannually?
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...
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1 FV PV f ni FV 35000 f n4i10 FV 35000 ...View the full answer
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Related Book For 
Intermediate Accounting Reporting and Analysis
ISBN: 978-1337788281
3rd edition
Authors: James M. Wahlen, Jefferson P. Jones, Donald Pagach
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