Problem 5-1 Future Value (LG5-1)

Compute the future value in year 7 of a $2,800 deposit in year 1, and another $2,300 deposit at the end of year 4 using a 8 percent interest rate. (Do not round intermediate calculations and round your final answer to 2 decimal places.)

Future value =

Problem 5-3 Future Value of an Annuity (LG5-2)

What is the future value of a $860 annuity payment over six years if interest rates are 10 percent? (Do not round intermediate calculations and round your final answer to 2 decimal places.)

Future value =

Problem 5-7 Present Value of an Annuity (LG5-4)

What's the present value of a $960 annuity payment over five years if interest rates are 9 percent? (Do not round intermediate calculations and round your final answer to 2 decimal places.)

Present value =

Problem 5-15 Effective Annual Rate (LG5-7)

A loan is offered with monthly payments and a 9.50 percent APR. Whats the loans effective annual rate (EAR)? (Do not round intermediate calculations and round your final answer to 2 decimal places.)

Effective annual rate = %

Problem 5-17 Future Value (LG5-1)

Given a 5 percent interest rate, compute the year 6 future value of deposits made in years 1, 2, 3, and 4 of $1,950, $2,150, $2,150, and $2,450, respectively. (Do not round intermediate calculations and round your final answer to 2 decimal places.)

Future value =