1. Future Value
Compute the future value in year 7 of a $2,800 deposit in year 1, and another $2,300 deposit at the end of year 4 using a 8 percent interest rate. (Do not round intermediate calculations and round your final answer to 2 decimal places.)
Future value =
2. Future Value of an Annuity
What is the future value of a $860 annuity payment over six years if interest rates are 10 percent? (Do not round intermediate calculations and round your final answer to 2 decimal places.)
Future value =
3. Present Value of an Annuity
What's the present value of a $960 annuity payment over five years if interest rates are 9 percent? (Do not round intermediate calculations and round your final answer to 2 decimal places.)
Present value =
4. Effective Annual Rate
A loan is offered with monthly payments and a 9.50 percent APR. What’s the loan’s effective annual rate (EAR)? (Do not round intermediate calculations and round your final answer to 2 decimal places.)
Effective annual rate = %
5. Future Value
Given a 5 percent interest rate, compute the year 6 future value of deposits made in years 1, 2, 3, and 4 of $1,950, $2,150, $2,150, and $2,450, respectively. (Do not round intermediate calculations and round your final answer to 2 decimal places.)
Future value =