Question: Use future value and present value calculations (see tables in the Chapter 1appendix) to determine the following. a. The future value of a $400 savings
Use future value and present value calculations (see tables in the Chapter 1appendix) to determine the following.
a. The future value of a $400 savings deposit after eight years at an annual interest rate of 3 percent.
b. The future value of saving $1,800 a year for five years at an annual interest rate of 4 percent.
c. The present value of a $6,000 savings account that will earn 3 percent interest for four years.
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