Question

Chapter 4, Question 2

For each of the following, compute the future value: (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) Years Future Value points Interest Rate - 17% 8 03:08:08 Present Value $ 3,100 8,553 90,305 228,382 Skipped

Answer 1

Future value of Present value		=	P*(1+i)^n		Where,
					P	=	Present value
					i	=	Interest rate
					n	=	time
So, future value of all present value is calculated as follows:
Present value		Years	Interest rate		Future Value
a		b	c		d=a*(1+c)^b
$          3,100		7	17%		$       9,303.85
8,553		20	7%		$     33,097.41
90,305		14	10%		$ 3,42,933.09
2,28,382		30	3%		$ 5,54,343.06