Calculate Answers to the Following Questions Using Future Value And/or

Essay

Calculate answers to the following questions using future value and/or present value tables.
a.Tally purchased machinery by executing a $30,000 non-interest-bearing note due in four years.For how much should the machinery be recorded,assuming that the going rate for similar notes is 6 percent?
b.Mindy Kwon is making bank deposits of $3,000 at the end of each year for five years,for purposes of buying a car.Assuming an interest rate of 7 percent,how expensive of a car will she be able to purchase?
c.To how much will $2,000 grow,assuming it is invested for 2-1/2 years,with interest of 8 percent,compounded quarterly?
d.Liz Astor would like to make a lump-sum deposit today so that she can withdraw $10,000 at the end of each year for the next three years.Assuming a 9 percent interest rate,what should she invest today?