Future Value Issues
Using the future values tables, solve the following:
1. What is the future value on December 31, 2019 of 10 cash flows of $20,000 with the first cash payment made on December 31, 2010 and interest at 10% being compounded annually?
2. What is the future value on June 30, 2020 of 20 cash flows of $15,000 with the first cash payment made on December 31, 2010 and the annual interest rate of 10% being compounded semiannually?
3. What is the future value on December 31, 2020 of 20 cash flows of $15,000 with the first cash payment made on December 31, 2010 and the annual interest rate of 10% being compounded semiannually?