Using the Future Value Tables to Answer the Following Questions

question 62

Essay

Using the future value tables to answer the following questions.
Required:
1) What is the value on January 1, 2021, of $75,000 deposited on January 1, 2014, which accumulates interest at 14% annually?
2) What is the value on January 1, 2020, of $15,000 deposited on July 1, 2014, which accumulates interest at 16% compounded quarterly?
3) What is the compound interest on an investment of $10,000 left on deposit for 7 years at 8% compounded annually?

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