Compute the Future Value of the Following Invested Amounts at the Specified

question 65

Essay

Compute the future value of the following invested amounts at the specified periods and interest rates.
$\begin{array}{cccc}& \text { Invested } & \text { Interest } & \text { Number of } \\\text { Item } & \text { Amount } & \text { Rate } & \text { Periods }\\\text { a. } & \$ 20,000 & 8 \% & 10 \\\text { b. } & \$ 30,000 & 4 \% & 8 \\\text { c. } & \$ 10,000 & 12 \% & 15\end{array}$

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Definitions:

Uncertain Duration

Describes a time period whose end point is not predetermined or known, often applying to contracts or agreements.

Ownership Interests

The legal rights and claims an individual or entity has over a property or business.

Partition

The division of real property among co-owners so that each owns a specific portion of the property, or the sale of such property and division of proceeds among co-owners.

Voluntary Act

An action undertaken by an individual with full awareness and of free will, without coercion.