Find the future value of an investment of $4,800 made today for the following rates and periods: (If you solve this problem with algebra round intermediate calculations to 6 decimal places, in all cases round your final answer to the nearest penny.) a. 6.25 percent compounded semi-annually for twelve years. Future value   $   b. 7.63 percent compounded quarterly for six years. Future value   $   c. 8.9 percent compounded monthly for ten years. Future value   $   d. 10 percent compounded daily for three years. Future value   $   e. 8 percent compounded continuously for two years. Future value   $

Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
ChapterA3: Time Value Of Money
Section: Chapter Questions
Problem 8CE
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Find the future value of an investment of $4,800 made today for the following rates and periods:

(If you solve this problem with algebra round intermediate calculations to 6 decimal places, in all cases round your final answer to the nearest penny.)

a. 6.25 percent compounded semi-annually for twelve years.

Future value   $
 


b. 7.63 percent compounded quarterly for six years.

Future value   $
 


c. 8.9 percent compounded monthly for ten years.

Future value   $
 


d. 10 percent compounded daily for three years.

Future value   $
 


e. 8 percent compounded continuously for two years.

Future value   $
 
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