I’m working on a accounting multi-part question and need an explanation and answer to help me learn.
Each question should just have the answer with the formula used, please round to two decimal places.
- What is the future value of $5,000 in 10 years at 5%, compounded monthly?
- What is the future value of $10,000 in 8 years at 8%, compounded quarterly?
- If you receive $10,000 in 5 years, what is its value today if the appropriate interest rate is 8% and interest is compounded semi-annually?
- If you received $10,000 5 years back, what is its value today if the appropriate interest rate is 8% and interest is compounded monthly?
- At what annual rate of return can you triple your money in 8 years if interest is compounded monthly?
- At what annual rate of return can you quadruple (means 4 times) your money in 16 years if interest is compounded quarterly?
- How many periods will it take you to quadruple (means 4 times) your money at 7%, if interest is compounded semi-annually? how many years will it take?
- How many periods will it take $500 to grow to$8,000 if you believe you can earn interest at the rate of 9% compounded monthly? how many years will it take?
- What is the present value of $15,500 received in 10 years if the interest of 1% is compounded monthly?
- What is the present value of $22,000 received in 5 years if the interest of 1% is compounded quarterly?
