Assume an annual interest rate-compounded annually

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1. Calculate the future value:

a) $1,000, in 10 years at an annual interest rate of 8%, compounded annually

b) $15,000, in 8 years at an annual interest rate of 8%, compounded annually

2. Calculate the present value of $15,000 to be received 10 years from today. Assume an annual interest rate of 10%, compounded annually

Reference no: EM13720119

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