6. What is the future value of $10,000 invested for 10 years with an interest rate...
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6. What is the future value of $10,000 invested for 10 years with an interest rate of 9%, compounded annually? 7. What is the future value of $100,000 invested for 20 years with an interest rate of 6% compounded semiannually? 8. What is the future value of $30,000 invested for 5 years with an interest rate of 8% compounded quarterly? 9. What is the future value of $75,000 invested for 3 years with an interest rate of 11% compounded monthly? 10. Holly is concerned about saving enough for her daughter to attend college at age 18. Her daughter is 7 years old, and Holly is considering depositing $25,000 in a 529 Plan. What will the value of the account be when her daughter starts college, assuming the return on her 529 is 9% per year? 6. What is the future value of $10,000 invested for 10 years with an interest rate of 9%, compounded annually? 7. What is the future value of $100,000 invested for 20 years with an interest rate of 6% compounded semiannually? 8. What is the future value of $30,000 invested for 5 years with an interest rate of 8% compounded quarterly? 9. What is the future value of $75,000 invested for 3 years with an interest rate of 11% compounded monthly? 10. Holly is concerned about saving enough for her daughter to attend college at age 18. Her daughter is 7 years old, and Holly is considering depositing $25,000 in a 529 Plan. What will the value of the account be when her daughter starts college, assuming the return on her 529 is 9% per year?
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To calculate the future value of the investments in each scenario we can use the future value formula FV PV 1 rn Where FV Future Value PV Present Valu... View the full answer
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