Essay
Using the compound interest tables, answer the following questions.
Required:
a. How much will be accumulated on January 1, 2018 if $450,000 is deposited on January 1,
2014, and interest is compounded annually at 10%?
b. How much will be accumulated on December 31, 2024 if $80,000 is deposited on
December 31, 2014, and the fund pays 9% interest compounded semiannually?
c. What will be on deposit on January 1, 2019 if $50,000 is deposited on January 1, 2014, in a fund that earns 16% interest compounded quarterly?
Correct Answer:
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a. FV = PV × fn,i), where n = 4, i = 10%...View Answer
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Correct Answer:
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