Time Value of Money
A. You plan to invest at a yearly 7.88% interest compounded yearly for 9 years.
If you want the investment will be worth $10,269 after 9 years, then you must put $_____ in the investment now.
B. You plan to invest at yearly 13% interest compounded monthly.
If you want the investment will be worth $8465 after 86 months, then you must put $________ in the investment now.
C. You invest $3544, at a yearly 5.34% interest compounded monthly for 7 years.
The investment will be worth $_____ after 7 years.