Question

Using the appropriate interest table, answer the following questions. (Each case is independent of the others.)

What is the future value of 24 periodic payments of $4,660 each
made at the beginning of each period and compounded at 8%?
*(Round factor values to 5 decimal places, e.g. 1.25124
and final answer to 0 decimal places, e.g.
458,581.)*

The future value |
$ |

What is the present value of $2,600 to be received at the
beginning of each of 30 periods, discounted at 5% compound
interest? *(Round factor values to 5 decimal places,
e.g. 1.25124 and final answer to 0 decimal places, e.g.
458,581.)*

The present value |
$ |

What is the future value of 16 deposits of $2,160 each made at
the beginning of each period and compounded at 10%? (Future value
as of the end of the 16th period.) *(Round factor values
to 5 decimal places, e.g. 1.25124 and final answer to 0 decimal
places, e.g. 458,581.)*

The future value |
$ |

What is the present value of 6 receipts of $2,980 each received
at the beginning of each period, discounted at 9% compounded
interest?

The present value |
$ |

Answer #1

**Solution 1:**

Future value = $4,660 * Cumulative FV factor at 8% for 24 periods of annuity due

= $4,660 * 72.10594 = $336,014

**Solution 2:**

Present value = $2,600 * Cumulative PV factor at 5% for 30 periods of annuity due

= $2,600 * 16.14107 = $41,967

**Solution 3:**

Future value = $2,980 * Cumulative FV factor at 9% for 6 periods of annuity due

= $2,160 * 39.5447 = $85,417

**Solution 4:**

Present value = $2,980 * Cumulative PV factor at 5% for 30 periods of annuity due

= $2,980 * 4.88965 = $14,571

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