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What is the future value of deposited

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Questions - Please explain how to solve the following questions.

Q1. Three Years Future Value - What is the future value of $3,000 deposited for three years earning 7% interest rate annually?

a. 675

b. 3000

c. 6675

d. 3675

Q2. Discounting Five Years - What is the present value of a $690 payment in five years when the discount rate is 5 percent?

a.540.63

b.690.00

c. 724. 50

d. 655.50

Q3. Future Value of an Annuity - What is the future value of a $300 annuity payment over 6 years if the interest rates are 7 percent?

a. 450.22

b. 2145. 99

c. 2518. 15

d. 1926.00

Q4. Future Value of an Annuity - What is the future value of a $1,200 annuity payment over 10 years if the interest rates are 8 percent?

a. 13, 723.07

b. 17,383. 87

c. 2590.71

d. 12960.00

Reference no: EM132436921

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