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(b) The future value of $1,200 saved each year for 10 years at 6 percent. (Round time value factor to 3 decimal places and fi
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Answer #1

rate positively ..

Ans b)
We have to use financial calculator to solve this
put in calculator -
PV -1200
PMT 0
I 6%
N 10
compute FV $2,149.02
Ans = $2,149.02
Ans c)
We have to use financial calculator to solve this
put in calculator -
FV 1200
PMT 0
I 6%
N 5
compute PV ($896.71)
Ans = $896.71
Ans d)
We have to use financial calculator to solve this
put in calculator -
FV 0
PMT -700
I 8%
N 8
compute PV $4,022.65
Ans = $4,022.65
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