Calculate the future value of the following amounts deposited today if they have an annual compound interest as shown below:
Situation | Amount deposited | Interest rate | Periods of deposited ( pear years) | Frequency |
A | $10,200 | 4.5% | 12 | Bimonthly |
B | $14,500 | 6.4% | 8 | Semiannual |
C | $10,000 | 8.3% | 7 | Quarterly |
D | $25,000 | 11.8% | 9 | Annual |
E | $26,000 | 10.7% | 20 | Quarterly |
F | $32,000 | 9.4% | 14 | Semiannual |
Deposit | Rate | Period | Frequency | FV | |
A | 10,200 | 4.50% | 12 | 6 | 17,468 |
B | 14,500 | 6.40% | 8 | 2 | 24,002 |
C | 10,000 | 8.30% | 7 | 4 | 17,772 |
D | 25,000 | 11.80% | 9 | 1 | 68,221 |
E | 26,000 | 10.70% | 20 | 4 | 214,857 |
F | 32,000 | 9.40% | 14 | 2 | 115,786 |
FV = PV x (1 + r/m)^(n x m)
where, PV - Deposit, r - rate, m - frequency, n - period.
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