Question: please help me. thank you. Use future value and present value calculations to determine the following: (a) The future value of a $800 savings deposit



please help me. thank you.
Use future value and present value calculations to determine the following: (a) The future value of a $800 savings deposit after eight years at an annual interest rate of 6 percent. Use Exhibit 1-A. (Round time value factor to 3 decimal places and final answer to 2 decimal places.) Future value (b) The future value of saving $2,150 a year for five years at an annual interest rate of 4 percent. Use Exhibit 1-8. (Round time value factor to 3 decimal places and final answer to 2 decimal places.) Future value (c) The present value of a $2.950 savings account that will earn 3 percent interest for four years. Use Exhibit 1. (Round time value factor to 3 decimal places and final answer to 2 decimal places.) Present value Hal Thomas wants to establish a savings fund from which a community organization could draw $1,690 a year for 30 years. If the account earns 4 percent, what amount would he have to deposit now to achieve this goal? Use Exhibit 1-D. (Round time value factor to 3 decimal places and final answer to 2 decimal places.) Amount to be deposited Saved Brenda plans to reduce her spending by $50 a month. Calculate the future value of this increase in savings over the next 12 years. (Assume an annual deposit to her savings account, and an annual interest rate of 5 percent. Use Exhibit 1 B. (Round time value factor to 3 decimal places and final answer to 2 decimal places.) Future value
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
