Essay
Using the future value tables to answer the following questions.
Required:
1) What is the value on January 1, 2023, of $75,000 deposited on January 1, 2016, which accumulates interest at
14% annually?
2) What is the value on January 1, 2021, of $15,000 deposited on July 1, 2016, which accumulates interest at 16%
compounded quarterly?
3) What is the compound interest on an investment of $10,000 left on deposit for 7 years at 8% compounded annually?
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