Compound Interest Factors Are Provided Below Required:
Using the Above Factors, Answer Each of the Following
Essay
Compound interest factors are provided below:
Required:
Using the above factors, answer each of the following questions.
a.How much will you have in 10 years if you invest $30,000 in an investment that earns 10% semiannually?
b.How much do you have to invest today to have $30,000 in 10 years if the investment earns 10% annually?
c.How much will you have in 10 years if you invest $15,000 at the end of each year in an investment earning 10% annually?
d.How much do you have to invest at the end of each year if you want to accumulate a total of $400,000 at the end of 10 years in an investment paying 10% semiannually?
Correct Answer:

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a.Future value, 5%, 20 periods: $30,000 ...View Answer
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