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Determine the future value of the following single amounts (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) (Round your final answers to nearest whole dollar amount.):Invested Amount i = n = Future Value1. $17,000 6% 142. $26,000 9% 113. $38,000 9% 144. $59,000 6% 8
Determine the future value of the following single amounts (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) (Round your final answers to nearest whole dollar amount.):Invested Amount i = n = Future Value1. $17,000 6% 142. $26,000 9% 113. $38,000 9% 144. $59,000 6% 8
Answer:1. $38,435.372. $67,091.093. $126,985.634.$94,037.04Explanation:The formula for calculating future value :FV = P (1 + r)^nFV = Future valueP = Present valueR = interest rateN = number of years1. $17,000 ( 1 + 0.06)^14 = $38,435.372. $26,000(1 + 0.09)^11 = $67,091.093. $38,000(1 + 0.09)^14 = $126,985.634. $59,000 (1+0.06)^8 = $94,037.04I hope my answer helps you...
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