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Exam (elaborations)

FV and PV of a single amount annually test with answers

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Homework #2A(FV and PV of a single amount annually).

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Business Finance
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Business Finance

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Homework #2A (FV and PV of a single amount annually)
Question 1
Compound Interest

http://www.moneychimp.com/calculator/compound_interest_calculator.htm

FV =PV ( 1+i )N


FV = Future Value
PV = Present Value
i = Interest
N = # of Periods

To what amount will the following investment accumulate? $2,813, invested today for 9 years at
5 percent, compounded annually. Round the answer to two decimal places.

Answer:
4,363.89


Question 2
Compound Interest

http://www.moneychimp.com/calculator/compound_interest_calculator.htm
N
FV =PV ( 1+i )


FV = Future Value
PV = Present Value
i = Interest
N = # of Periods

You placed $1,605 in a savings account today that earns an annual interest rate of 15 percent
compounded annually. How much you will have in this account at the end of 23 years? Assume
that all interest received at the end of the year is reinvested the next year. Round the answer to
two decimal places.

Answer:
39,950.79


Question 3
Determine Present Value


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  • future value of a single amount annually
  • present value of a singe amount annually
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