Question

Compute the future value of $1,000 compounded annually for 20 years at 8 percent. (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

  

Future value

$

  

b.	Compute the future value of $1,000 compounded annually for 15 years at 11 percent. (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

Future value

$

c.	Compute the future value of $1,000 compounded annually for 25 years at 8 percent.

Answer 1

	A.	B.	C.
	Amount = 1000$	Amount = 1000$	Amount = 1000$
	Compound rate = 8%	Compound rate = 11%	Compound rate = 8%
	Years = 20	Years = 15	Years = 25
Year	Future value	Future value	Future value
1	1.080	1.110	1.080
2	1.166	1.232	1.166
3	1.260	1.368	1.260
4	1.360	1.518	1.360
5	1.469	1.685	1.469
6	1.587	1.870	1.587
7	1.714	2.076	1.714
8	1.851	2.305	1.851
9	1.999	2.558	1.999
10	2.159	2.839	2.159
11	2.332	3.152	2.332
12	2.518	3.498	2.518
13	2.720	3.883	2.720
14	2.937	4.310	2.937
15	3.172	4.785	3.172
16	3.426		3.426
17	3.700		3.700
18	3.996		3.996
19	4.316		4.316
20	4.661		4.661
21			5.034
22			5.437
23			5.871
24			6.341
25			6.848
	Future Value= 1000$*4.661	Future Value= 1000$*4.785	Future Value= 1000$*6.848
	$4660.95	$4784.58	$6848.47