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 $4,890 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 |
$enter the future value in dollars rounded to 0 decimal places |

What is the present value of $3,950 to be received at the beginning
of each of 29 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 17 deposits of $3,030 each made at
the beginning of each period and compounded at 10%? (Future value
as of the end of the 17th 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 |
$enter the future value in dollars rounded to 0 decimal places |

What is the present value of 6 receipts of $2,810 each received at
the beginning of each period, discounted at 9% compounded interest?

The present value |
$enter the present value in dollars rounded to 0 decimal places |

Answer #1

**Solution 1:**

Future value = $4,890 * Cumulative FV factor at 8% for 24 periods of annuity due

= $4,890 * 72.10594 = $352,598

**solution 2:**

Present value = $3,950 * Cumulative PV factor at 5% for 29 periods of annuity due

= $3,950 * 15.89813 = $62,798

**Solution 3:**

Future value = $3,030 * Cumulative FV factor at 10% for 17 periods of annuity due

= $3,030 * 44.59917 = $135,135

**solution 4:**

Present value = $2,810 * Cumulative PV factor at 9% for 6 periods of annuity due

= $2,810 * 4.88965 = $13,740

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(Round factor values to 5 decimal places, e.g. 1.25124
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The future value
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