Without referring to the preprogrammed function on your financial calculator, us

Question

Without referring to the preprogrammed function on your financial calculator, use the basic formula for future value along with the given interest rate, r, and the number of periods, n, to calculate the future value of $1 in each of the cases shown in the following table.

Case           Interest rate, r             Number of periods, n

A                    12%                                      2

B                      6                                        3

C    9                    2

D                     3                                        4

Explanation / Answer

Case A<?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />

Interest Rate, r = 12 %

Number of Periods, n = 2

Future Value of $ 1

= $ 1

Related Questions

Navigate

• Browse (All)
• Browse W
• Subjects

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.