Calculate the future value in six years of $5,000 received today if your investments pay (Do not round intermediate calculations. Round your answers to 2 decimal places. (e. g., 32.16))

Future Value

a. 5 percent compounded annually $

b. 7 percent compounded annually

c. 9 percent compounded annually

d. 9 percent compounded semiannually

e. 9 percent compounded quarterly

Instructions are listed below.

Explanation:

Giving the following information:

The future value in six years of $5,000 received today:

A) i=0.05 annually

FV = PV * (1+i) ^n

FV = 5,000 * (1.05) ^6 = $6,700.48

B) i=0.07 annually

FV = 5,000 * (1.07) ^6 = $7,503.65

C) i=0.09 annually

FV = 5,000 * (1.09) ^6 = $8,385.50

D) i = 0.09 semiannually = 0.045

FV = 5,000 * (1.045) ^12 = $8,479.41

E) i=0.09 quaterly = 0.0225

n = 6*4 = 24

FV = 5,000 * (1.0225) ^24 = $8,528.83