Exam 5: Time Value of Money

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What's the future value of $1,500 after 5 years if the appropriate interest rate is 6%,compounded semiannually?

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Bob has $2,500 invested in a bank that pays 4% annually.How long will it take for his funds to double?

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What is the PV of an ordinary annuity with 10 payments of $2,700 if the appropriate interest rate is 5.5%?

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