Using the future values tables, solve the following. Required: 1. What is the future value on December

Question:

Using the future values tables, solve the following.

Required:
1. What is the future value on December 31, 2028, of 10 cash flows of $20,000 with the first cash payment made on December 31, 2019, and interest at 10% being compounded annually?

2. What is the future value on June 30, 2029, of 20 cash flows of $15,000 with the first cash payment made on December 31, 2019, and the annual interest rate of 10% being compounded semiannually?
3. What is the future value on December 31, 2029, of 20 cash flows of $15,000 with the first cash payment made on December 31, 2019, and the annual interest rate of 10% being compounded semiannually?

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...

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