For each of the following, compute the future value (Do not round intermediate calculations and round your final answers to 2 decimal places. (e. g., 32.16)):

Present Value Years Interest Rate Future Value

$2,050 12 12 %

$ 8,352 6 10

72,355 13 11

179,796 7 7

The computation of the future value is shown below:

As we know that

Future value = Present value * (1 + interest rate) ^number of years

In the first case,

Future value = $2,050 * (1 + 0.12) ^12

= $2,050 * 3.895975993

= $7,986.75

In the second case,

Future value = $8,352 * (1 + 0.10) ^6

= $8,352 * 1.771561

= $14,796.08

In the third case,

Future value = $72,355 * (1 + 0.11) ^13

= $72,355 * 3.883280163

= $280,974.74

In the fourth case,

Future value = $179,796 * (1 + 0.07) ^7

= $179,796 * 1.605781476

= $288,713.09