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Unformatted text preview: PM1 Future Value of an InvestmentUsing the future value tables, solve the following:Required1. What is the future value on December 31, 2014 of a deposit of $35,000 made on December 31, 2010,assuming interest of 10% compounded annually?2. What is the future value on December 31, 2014 of a deposit of $10,00 made on December 31, 2010,assuming interest of 16% compounded quarterly?3. What is the future value on December 31, 2014 of a deposit of $25,000 made on December 31, 2010,assuming interest of 12% compounded semiannually?PM1 Future Value of an InvestmentName:Joey D. FinleyAn asterisk (*) will appear next to an incorrect amount(s) in the outlined cell(s). If you are still gettina red asterisk, and think the answer is correct, but used a formula in the cell try manually typingin the answer according to the rounding instructions.Required1. What is the future value on December 31, 2014 of a deposit of $35,000 madeon December 31, 2010, assuming interest of 10% compounded annually?Principal sumxFactor (from table)=Future Value$35,000 1.464100$51,243.50 2. What is the future value on December 31, 2014 of a deposit of $10,00 madeon December 31, 2010, assuming interest of 16% compounded quarterly?Principal sumxFactor (from table)=Future Value$10,000 1.872981$18,729.81 3. What is the future value on December 31, 2014 of a deposit of $25,000 madeon December 31, 2010, assuming interest of 12% compounded semiannually?Principal sumxFactor (from table)=Future Value$25,000 1.593848$39,846.20 PM1 Future Value of an InvestmentName:SolutionsAn asterisk (*) will appear next to an incorrect amount(s) in the outlined cell(s). If you are still gettina red asterisk, and think the answer is correct, but used a formula in the cell try manually typingin the answer according to the rounding instructions.in the answer according to the rounding instructions....
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 Spring '10
 THUM

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