eBook Do the Math 1-4 Future Values Calculate the following: A-Z a. The future value of lump-sum investment of $4,800 in four years that earns 5 percent. Round your answer to the nearest dollar. (Hint: Use Appendix A.1 or the Garman/Forgue companion website.) Round Future value of a Single Amount in intermediate calculations to four decimal places. b. The future value of $1,000 saved each year for three years that earns 5 percent. Round your answer to the nearest dollar. (Hint: Use Appendix A.3 or the Garman/Forgue companion website.) Round Future value of Series of Equal Amounts in intermediate calculations to four decimal places. c. A person who invests $1,500 each year finds one choice that is expected to pay 4 percent per year and another choice that may pay 7 percent. What is the difference in return if the investment is made for four years? Round your answer to the nearest dollar. (Hint: Use Appendix A.3 or the Garman/Forgue companion website.) Round Future value of Series of Equal Amounts in intermediate calculations to four ిగ decimal places. d. The amount a person would need to deposit today with a 6 percent interest rate to have $4,000 in three years. Round your answer to the nearest dollar. (Hint: Use Appendix A.2 or the Garman/Forgue companion website.) Round Present value of a Single Amount in intermediate calculations to four decimal places. 2$

eBook Question Content Area Time Value of Money Concept The following situations involve the application of the time value of money concept. Use the full factor when calculating your results. Use the appropriate present or future value table: FV of $1, PV of $1, FV of Annuity of $1 and PV of Annuity of $1 1.  Janelle Carter deposited $9,840 in the bank on January 1, 2000, at an interest rate of 10% compounded annually. How much has accumulated in the account by January 1, 2017? Round to the nearest whole dollar. 2. Lee Spony made a deposit in the bank on January 1, 2010. The bank pays interest at the rate of 10% compounded annually. On January 1, 2017, the deposit has accumulated to $13,120. How much money did Lee originally deposit on January1, 2010? Round to the nearest whole dollar.

Check My Work eBook Your parents will retire in 28 years. They currently have $300,000 saved, and they think they will need $2,500,000 at retirement. What annual interest rate must they earn to reach their goal, assuming they don't save any additional funds? Round your answer to two decimal places. %

Question content area top Part 1 ​(Related to Checkpoint​ 6.1) ​ (Future value of an​ annuity)  Imagine that Homer Simpson actually invested the ​$   160,000 he earned providing Mr. Burns entertainment   10 years ago at   11 percent annual interest and that he starts investing an additional ​$   1,800 a year today and at the beginning of each year for   15 years at the same   11 percent annual rate.  How much money will Homer have   15 years from​ today?           Question content area bottom Part 1 The amount of money Homer will have   15 years from now is ​$   enter your response here . ​ (Round to the nearest​ cent.)

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< CO T R E # 3 Problem Set 1: Finance Progr Score: 19.8/50 8/20 answered Question 15 You want to be able to withdraw $35,000 from your account each year for 25 years after you retire. You expect to retire in 15 years. If your account earns 6% interest, how much will you need to deposit each year until retirement to achieve your retirement goals? 24 Question Help: D Video Submit Question MacBook Air 08 F3 DD F2 F4 F5 F8 & $ 2 5. M

eBook Do the Math 1-5Present and Future Values Using the present and future value tables in Appendix A, the appropriate calculations on the Garman/Forgue companion website, or a financial calculator, calculate the following: The amount a person would need to deposit today to be able to withdraw $9,000 each year for ten years from an account earning 6 percent. Round your answer to the nearest whole dollar. Round Present Value of Series of Equal Amounts in intermediate calculations to four decimal places. $   A person is offered a gift of $4,900 now or $8,000 five years from now. If such funds could be expected to earn 3 percent over the next five years, which is the better choice? Round Future Value of a Single Amount in intermediate calculations to four decimal places.

eBook Question Content Area Present value of an annuity Determine the present value of $200,000 to be received at the end of each of 4 years, using an interest rate of 7%, compounded annually, as follows: a.  By successive computations, using the present value of $1 table in Exhibit 5. Round to the nearest whole dollar.