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.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!