value of investment problem

Oct 22nd, 2014
Anonymous
Category:
Accounting
Price: \$5 USD

Question description

. If a nurse deposits \$1,000 today in a bank account and the interest is compounded annually at 12%, what will be the value of this investment:
a) five years from now? \$1,000×FVF(12%,5)
b) ten years from now? \$1,000×FVF(12%,10)
c) fifteen years from now? \$1,000×FVF(12%,15)
d) twenty years from now? \$1,000×FVF(12%,20)

2. If the business manager deposits \$200 in a savings account at the end of each year for twenty years, what will be the value of her investment:
a) at a compounded rate of 10%? \$200×FVFA(10%,20)
b) at a compounded rate of 14%? \$200×FVFA(14%,20)

(Top Tutor) Sarthak G
School: UIUC

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