Find the future value of the following investment. Frequency of Conversion Nominal Principal Rate Time $8700.00 6.3% annually 4 years ..... The future value is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)

Find the future value of the following investment. Frequency of Conversion Nominal Principal Rate Time $8700.00 6.3% annually 4 years ..... The future value is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter11: Capital Budgeting Decisions

Section: Chapter Questions

Problem 9EA: If you invest $12,000 today, how much will you have in (for further Instructions on future value in...

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Concept explainers

Loanable Funds Theory

The loanable funds theory is a neoclassical theory that determines the interest rate where the demand for loanable investments and supply of loanable funds intersect. To determine the interest rate, this theory employs linear regression and a demand curve. At the equilibrium point, demand for borrowings and demand for the issuance of borrowing funds are inextricably linked. This point of equilibrium should equalize demand and the supply of money available for borrowing.

Question

Find the future value of the following investment.
Frequency of
Conversion
Nominal
Principal
Rate
Time
$8700.00
6.3%
annually
4 years
.....
The future value is $
(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)

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