1 answer

Exercise A3-11 Practice with Tables Use Future Value Tables and Present Value Tables, or your calculator,...

Question:

Exercise A3-11 Practice with Tables

Use Future Value Tables and Present Value Tables, or your calculator, to complete the requirements below.

Required:

Round your answers to the nearest cent.

a. Determine the future value of a single cash flow of $5,000 that earns 7% interest compounded annually for 10 years.
$

b. Determine the future value of an annual annuity of 10 cash flows of $500 each that earns 7% compounded annually.
$

c. Determine the present value of $5,000 to be received 10 years from now, assuming that the interest (discount) rate is 7% per year.
$

d. Determine the present value of an annuity of $500 per year for 10 years for which the interest (discount) rate is 7% per year and the first cash flow occurs 1 year from now.
$


Answers

a. $9835.76

b.$6908.22 (assuming payments at end of year)

c.$2541.75

d.$3511.79 (assuming payments at end of year)

.

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