Question: For each question please include the values for the time periods, the annual interest/discount rate, the payment amount, the Future Value, and the Present Value.
For each question please include the values for the time periods, the annual interest/discount rate, the payment amount, the Future Value, and the Present Value.
1. Calculate the future value of $1,000 invested for 5 years assuming an annual interest rate of 8%.
2. Calculate the present value of $1,000,000 to be received in 20 years assuming an annual interest rate of 5%, compounded monthly.
3. Calculate the future value of $15,000 invested for 15 years assuming an annual interest rate of 8%, compounded monthly.
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