Question: Problem 1-6 Computing the Time Value of Money [LO1-4] Using time value of money tables, calculate the following. Use (Exhibit 1-A, Exhibit 1-B, Exhibit 1-C,

Problem 1-6 Computing the Time Value of Money [LO1-4] Using time value of money tables, calculate the following. Use (Exhibit 1-A, Exhibit 1-B, Exhibit 1-C, Exhibit 1-D).

(a) The future value of $410 six years from now at 6 percent. (Round time value factor to 3 decimal places and final answer to 2 decimal places.)

(b) The future value of $1,200 saved each year for 10 years at 6 percent. (Round time value factor to 3 decimal places and final answer to 2 decimal places.)

(c) The amount a person would have to deposit today (present value) at an interest rate of 6 percent to have $1,200 five years from now. (Round time value factor to 3 decimal places and final answer to 2 decimal places.)

(d) The amount a person would have to deposit today to be able to take out $700 a year for 8 years from an account earning 8 percent. (Round time value factor to 3 decimal places and final answer to 2 decimal places.)

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