Future value and maturity value
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26. Find the future value FV of the given present value of $3,690 at 2 3/4% for eight years.
34. Find the future value FV of the given present value of $12,450 at 5 7/8% for 630 days.
47. Find the maturity value FV of the given loan amount of $1,200 borrowed at 7 1/8% for three years.
55. Find the maturity value FV of the given loan amount of $2,710 borrowed at 12 3/4% for 285 days.
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Solution Summary
The future value and maturity value for given present values are calculated.
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26. Future value = Present value x (1+rate)^number of years
FV = 3690 x (1+0.0275)^8 = $4584.38
34. FV ...
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