Homework Answers
a. The future value is computed as shown below:
Plug the below numbers in the financial calculator
PV = - 19,378
N = 8 x 2
= 16
I/Y = 18% / 2
= 9
PMT = 0
Then press CPT FV
The FV will be 76,936.59 Approximately
b. If quarterly compounding is used, then the future value will be:
Plug the below numbers in the financial calculator
PV = - 19,378
N = 8 x 4
= 32
I/Y = 18% / 4
= 4.5
PMT = 0
Then press CPT FV
The FV will be 79,255.65 Approximately
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