value of investment problem

Oct 22nd, 2014
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)

Tutor Answer

(Top Tutor) Sarthak G
School: UIUC

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