Problems
54. Compute the future value of the following invested amounts at the specified periods and interest rates.
Invested
Interest
Number of
Item
Amount
Rate
Periods
a.
$20,000
8%
10
b.
$30,000
4%
8
c.
$10,000
12%
15
55. Anthony would like to have $18,000 to buy a new car in three years. Currently, he has saved $15,000. If he puts $15,000 in an account that earns 6% interest, compounded annually, will he be able to buy the car in three years?
Already registered? Login
Not Account? Sign up
Enter your email address to reset your password
Back to Login? Click here