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Future value calculations and tables

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A, Future value calculation
Without referring to tables or to the preprogrammed function on your financial calculator, use the basic formula for future value along with the given interest rate, i, and the number of periods, n, to calculate the future value interest factor in each of the cases shown in the following table.
case Interest rate,i Number of periods, n
A 12% 2
B 6 3
C 9 2
D 3 4

b, Future value tables
Use the future value interest factors in Appendix Table A-1
in each of the cases shown in the table on the facing page to estimate, to the nearest
year, how long it would take an initial deposit, assuming no withdrawals,
a. To double.
b. To quadruple.
Case Interest rate
A 7%
B 40
C 20
D 10

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Solution Preview

Future value calculations and tables
a, Future value calculation
Without referring to tables or to the preprogrammed
function on your financial calculator, use the basic formula for future value along with the given interest rate, i, and the number of periods, n, to calculate the future value interest factor in each of the cases shown in the following table.
case Interest rate,i ...

Solution Summary

This solution is comprised of a detailed explanation to calculate the future value interest factor in each of the cases shown in the following table.

$2.19