Question

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

Answer:

1. $38,435.37

2. $67,091.09

3. $126,985.63

4.$94,037.04

Explanation:

The formula for calculating future value :

FV = P (1 + r)^n

FV = Future value

P = Present value

R = interest rate

N = number of years

1. $17,000 ( 1 + 0.06)^14 = $38,435.37

2. $26,000(1 + 0.09)^11 = $67,091.09

3. $38,000(1 + 0.09)^14 = $126,985.63

4. $59,000 (1+0.06)^8 = $94,037.04

I hope my answer helps you