Problem $3-9$ Computing the Time Value of Money for Savings $[$LO$3-4]$

Use future value and present value calculations to determine the following:

$($Exhibit $1-$A$,$ Exhibit $1-$B$,$ Exhibit $1-$C$,$ Exhibit $1-$D$)$

Note: Use appropriate factor$($s$)$ from the tables provided.

a$.$ The future value of a $$530$ savings deposit after eight years at an annual interest rate of $2$ percent.

b$.$ The future value of saving $$2,450$ a year for five years at an annual interest rate of $3$ percent.

c$.$ The present value of a $$6,650$ savings account that will earn $2$ percent interest for four years.

Complete this question by entering your answers in the tabs below.

Required a

Required $b$

The future value of a $$530$ savings deposit after eight years at an annual interest rate of $2$ percent.

Note: Round time value factor to $3$ decimal places and final answer to $2$ decimal places.

Future value