FUTURE VALUES Using the appropriate tables in the text, Required:

Determine:

a. the future value of a single deposit of $15,000 that earns compound interest for four years at an interest rate of 10 percent per year.

b. the annual interest rate that will produce a future value of $13,416.80 in six years from a single deposit of $8,000.

c. the size of annual cash flows for an annuity of nine cash flows that will produce a future value of $79,428.10 at an interest rate of 9 percent per year.

d. the number of periods required to produce a future value of $17,755.50 from an initial deposit of $7,500 if the annual interest rate is 9 percent.
Exercise