Question

Show work . What is the future value of $5,900 invested for 8 years at 7...

Show work .

What is the future value of $5,900 invested for 8 years at 7 percent compounded annually?

Business   Finance   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

Compound interest formula:

Where,
A = Future value
P = Principal amount invested
i = rate of interest in decimal form(i.e 7% = 0.07)
n = number of years

Therefore,

Therefore, the future value of $5,900 invested for 8 years at 7 percent compounded annually is $10,137.30

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Q1 What is the future value in seven years of 1200 invested in an account of...
Q1 What is the future value in seven years of 1200 invested in an account of annual percentage rate of 8 percent, compounded semi annually. B What is the future value in seven years of 1200 invested in an account of annual percentage rate of 8 percent, compounded annually. C What is the future value in seven years of 1200 invested in an account of annual percentage rate of 8 percent, compounded monthly. D What is the future value in...
a. What is the future value in six years of $1,400 invested in an account with...
a. What is the future value in six years of $1,400 invested in an account with an annual percentage rate of 9 percent, compounded annually? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Future value $   b. What is the future value in six years of $1,400 invested in an account with an annual percentage rate of 9 percent, compounded semiannually? (Do not round intermediate calculations and round your answer to 2 decimal...
What is the future value of $100 invested at 10% compounded annually for 3 years? What...
What is the future value of $100 invested at 10% compounded annually for 3 years? What is the future value of $100 invested at 10% compounded annually for 10 years? What is the present value of an investment that will give you $100 after 10 years with a rate of 10% compounded annually? You end up with $20,000 after investing for 20 years at 8% annually. What was the PV? Maverick Jane places $800 in a savings account paying 6%...
a. What is the future value in five years of $1,200 invested in an account with...
a. What is the future value in five years of $1,200 invested in an account with an annual percentage rate of 10 percent, compounded annually? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Future value $  Not attempted b. What is the future value in five years of $1,200 invested in an account with an annual percentage rate of 10 percent, compounded semiannually? (Do not round intermediate calculations and round your answer to 2...
What is the future value of $80,000 received today, after 14 years if it is invested...
What is the future value of $80,000 received today, after 14 years if it is invested at 8% compounded annually for the next five years and 3%, compounded annually for the remaining nine years? Multiple Choice $171,022 $158,098 $144,772 $134,567 $153,371
Calculate the future value of $1,000 invested today for 5 years if your investment pays 8%...
Calculate the future value of $1,000 invested today for 5 years if your investment pays 8% compounded semi annually?
What is the future value of $10,000 invested for 5 years at 6 percent compounded semi-annually?Please...
What is the future value of $10,000 invested for 5 years at 6 percent compounded semi-annually?Please provide step-by-step instructions for solving the problem $13,439.16 $10,000.00 $13,382.26 $13,192.87
Compute the future value of $1,000 compounded annually for 20 years at 8 percent. (Do not...
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...
Calculate the future value in six years of $5,000 received today if your investments pay (Do...
Calculate the future value in six years of $5,000 received today if your investments pay (Do not round intermediate calculations. Round your answers to 2 decimal places. (e.g., 32.16))            Future Value a. 6 percent compounded annually $      b. 8 percent compounded annually      c. 10 percent compounded annually      d. 10 percent compounded semiannually      e. 10 percent compounded quarterly      PLEASE SHOW THE WORK
An amount is invested at 8%, compounded quarterly, for 2 years. What rate and what number...
An amount is invested at 8%, compounded quarterly, for 2 years. What rate and what number of periods would be used to find a future value factor from the tables in order to calculate the future value of this investment? a)2% for 4 periods b) 8% for 2 periods c)2% for 8 periods d)8% for 4 periods An investment earning 12% interest compounded semi-annually, will accumulate to a greater amount in the future than an equal investment earning 12% compounded...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT