Compute the future value of $10,000 at an interest rate of 10 percent 5, 10, and 15 years into the future. What would the future value be over these time horizons if the interest rate were 7 percent? Instructions: Enter your responses rounded to the nearest penny (two decimal places). Do not round intermediate calculations. At an interest rate of 10 percent: Future value in 5 years = $ Future value in 10 years = $ Future value in 15 years = $ At an interest rate of 7 percent: Future value in 5 years = $ Future value in 10 years = $ Futur valu in 15 years = $ The patterns over different time horizons and at different interest rates show that as the time horizon lengthens, the future value (Click to select). As the interest rate declines, the future value (Click to select)
Compute the future value of $10,000 at an interest rate of 10 percent 5, 10, and 15 years into the future. What would the future value be over these time horizons if the interest rate were 7 percent? Instructions: Enter your responses rounded to the nearest penny (two decimal places). Do not round intermediate calculations. At an interest rate of 10 percent: Future value in 5 years = $ Future value in 10 years = $ Future value in 15 years = $ At an interest rate of 7 percent: Future value in 5 years = $ Future value in 10 years = $ Futur valu in 15 years = $ The patterns over different time horizons and at different interest rates show that as the time horizon lengthens, the future value (Click to select). As the interest rate declines, the future value (Click to select)
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Transcribed Image Text:Compute the future value of $10,000 at an interest rate of 10 percent 5, 10, and 15 years into the future. What would the future
value be over these time horizons if the interest rate were 7 percent?
Instructions: Enter your responses rounded to the nearest penny (two decimal places). Do not round intermediate calculations.
At an interest rate of 10 percent:
Future value in 5 years = $
Future value in 10 years = $
Future value in 15 years = $
At an interest rate of 7 percent:
Future value in 5 years = $
Future value in 10 years = $
Future value in 15 years = $
The patterns over different time horizons and at different interest rates show that as the time horizon lengthens, the future value
(Click to select) As the interest rate declines, the future value (Click to select) ✓
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