Future Value and Compound Interest Using the future value tables, solve the following: (Click here to access the time value of money tables to use with this problem.) Round your answers to two decimal places. Required: 1. What is the value on January 1, 2023, of $40,000 deposited on January 1, 2016, which accumulates interest at 12% compounded annually? $ 2. What is the value on January 1, 2022, of $10,000 deposited on July 1, 2016, which accumulates interest at 16% compounded quarterly? $ 23,699.18 x 3. What is the compound interest on an investment of $6,000 left on deposit for 5 years at 10% compounded annually? Feedback Check My Work The future value of a single sum is the original sum plus the compound interest, measured as of a specific future date. Compounding conver current period cash flow to a future value by incorporating the time value of money. The following questions can help you with Time Value of Money questions: When do the cash flows occur? How much are the cash flows