How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Steve Your Own Question
Steve
Steve, MBA
Category: Business and Finance Homework
Satisfied Customers: 23695
Experience:  MBA
26942375
Type Your Business and Finance Homework Question Here...
Steve is online now
A new question is answered every 9 seconds

Will tip 15.00 Need some help with the following 3 questions. 1.

This answer was rated:

Will tip 15.00

Need some help with the following 3 questions.

1. Find the future value and compound interest on $4,000 at 8% compounded semiannually for six years. Use the Future Value for Compound Amount of $1.00 Table or the future value and compound interest formula. Future Value Compound amount of $1.00 link to this table is here in PDF format: http://www.mediafire.com/?11tt4x1iwlzl23b

Compound Amount = $___
(round to the nearest cent as needed.)

Compound Interest = $___
(round to the nearest cent as needed.)

2. Use table or appropriate formula. Compute the compound amount and the interest on a loan of $10,700 compound annually for four years at 4%. Future Value or Compound Amount of $1.00

Here is the table: http://www.mediafire.com/?4r2dq7n8uxd6k1y

Future value or Compound Amount on $1.00 =
(round to the nearest cent as needed)

Compound interest=
(round to the nearest cent as needed)

3. Find the amount that should be set aside today to yield the desired future amount. There are two tables. They are here
Table 1: http://www.mediafire.com/?0gmhz3egr12cuhu
Table 2: http://www.mediafire.com/?mfrd91mu5vpqtth

Future amount needed: $11,000
Interest Rate: 4%
Compounding period: quarterly
Investment Time: 3 years

hi, do you need all work shown, or just the answers?

 

Customer: replied 5 years ago.
just need the answers

FV = 6404.13

interest = 2404.13

 

fv = 12517.49

interest = 1817.49

 

needed = 9761.94

 

Please do not forget to press ACCEPT and $15 bonus as promised.

 

Thanks,

Steve

Steve and other Business and Finance Homework Specialists are ready to help you

Related Business and Finance Homework Questions