SOLUTION: Find the future value of each of the following at a given annual rate compounded
annually and the given time:
a. ₱3,000 at 2.5% after 3 years
b. ₱15,000 at 3.75% after 4 ye
Algebra.Com
Question 1175691: Find the future value of each of the following at a given annual rate compounded
annually and the given time:
a. ₱3,000 at 2.5% after 3 years
b. ₱15,000 at 3.75% after 4 years
Answer by greenestamps(13203) (Show Source): You can put this solution on YOUR website!
a. The interest rate is 2.5% = 0.025; the annual growth factor is 1+0.025 = 1.025; the value after n years is the initial amount, multiplied by the growth factor n times.
b. Just plug in the new numbers and perform the same calculation.
RELATED QUESTIONS
Find the present value and the future value of semi-annual payments of 105,000 pesos with (answered by Theo)
What is the future value of a semi-annual payments of 8,000 pesos for 12 years with... (answered by Theo)
Find and interpret the future value of the given amount..... $7300 at 7% compounded... (answered by Alan3354)
Find the present value of the given future payment at the specified interest rate.... (answered by Boreal)
A certain bond pays coupons of Php 5,000 every six months for:
Given:
Semi-annual... (answered by CPhill)
Find the present value and future value of quarterly payments of 5,000 pesos for 10 years (answered by Shin123,ikleyn)
Find the future value of the following ordinary annuities. Payments are made and interest (answered by ikleyn)
The principal represents an amount of money deposited in a savings account subject to... (answered by Boreal)
Find the present value of the following future amount.
$400,000 at 8% compound annually... (answered by mananth)