Question: 1. Use the future value formula to find the indicated value. n=31;i=0.03; PMT=$109;FV=? 2. Use the future value formula to find the indicated value. FV=$4998;

1. Use the future value formula to find the indicated value. n=31;i=0.03; PMT=$109;FV=?

2. Use the future value formula to find the indicated value. FV=$4998; n=9; i=0.06; PMT=?

3. Use the future value formula to find the indicated value. FV=$10,000; i=0.04;PMT=$800; n=?

4. Recently, More Money 4U offered an annuity that pays 5.1% compounded monthly. If $1,764 is deposited into this annuity every month, how much is in the account after 6 years? How much of this is interest?

5. A company estimates that it will need $134,000 in 17 years to replace a computer. If it establishes a sinking fund by making fixed monthly payments into an account paying 6.3% compounded monthly, how much should each payment be?

6. You can afford monthly deposits of $140 into an account that pays 2.7% compounded monthly. How long will it be until you have $11,900 to buy a boat?

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