Question: What is the future value ( in $ ) of $ 2 , 1 0 5 in 1 0 years assuming an interest rate of

What is the future value (in $) of $2,105 in 10 years assuming an interest rate of 9.01 percent compounded quarterly?

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!

Q:

You are working at Phantom Realty, a real estate agency which specialises in sales and property management services. Your manager asks you to write a report on the agency to be published in the...

Q:

Your grandfather would like to share some of his fortune with you. He offers to give you money under one of the following scenarios (you get to choose): 1. $7,750 a year at the end of each of the...

Q:

Find the annual interest rate. (Do not round intermediate calculations. Enter your answers as a percent rounded to 2 decimal places.) Present Value Future Value Time Period $100 $124.82 4 years...

Q:

This is all the information i was provided. Please ddont just give me equations I need to understand what everythinng means and where it needs to go inn the equation. Simple vs compound interest a ....

Q:

7. Using interest rate swaps to reduce interest rate risk Suppose that Foundation bank seeks to reduce its interest rate risk in regards to its holdings of fixed-rate (12%) mortgages via the use of...

Q:

Please help me, I can't do this...Thank you! FIN 320 Project Two Milestone Guidelines and Rubric Overview To prepare for your report in Project Two, you must calculate the financial ratios needed to...

Q:

Question 1 Which one of the following statements is true? a ) . there is a negative relationship between interest rates and future value b ) . the longer the time period, the higher the present value...

Q:

Suppose that Phoenix bank seeks to reduce its interest rate risk in regards to its holdings of fixed-rate (12%) mortgages via the use of interest rate swaps. To this end, Phoenix and Emblem bank come...

Q:

7. Using interest rate swaps to reduce interest rate risk Suppose that Phoenix bank seeks to reduce its interest rate risk in regards to its holdings of fixed-rate (10%) mortgages via the use of...

Q:

7. Using interest rate swaps to reduce interest rate risk Suppose that Phoenix bank seeks to reduce its interest rate risk in regards to its holdings of fixed-rate (12%) mortgages via the use of...

Q:

Step by step and showing the formulas 2. Find the present value of $2,000,000 20 years from now at interest rate of 6%, 10%, 12%, 18%. 3. If you save $4,000 a year for 30 years, what is the future...

Q:

A city recycles about 612 pounds of newspaper each month. If they recycle the same amount each month, about how many pounds would be recycled in 7 months?

Q:

You are approaching the midway point of a project, and the date of the next status meeting is fast approaching. You have almost everything you need to put the status report together for the...

Q:

Rayna sold her home this year and is preparing her income tax return. She sold the house for $ 6 5 0 , 0 0 0 . It was purchased 2 0 years ago ( after she was married ) for $ 2 5 0 , 0 0 0 , and they...

Q:

Climate change has a significant impact on the global supply chain. As a supply chain professional, give answer as an article on the impact of climate change on the global supply change. Your article...