For each of the following, compute the future value (Do not round intermediate calculations and...
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Accounting
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)):
| Years | Interest rate | Present value | Future value | ||
| 10 | 14 | 2750 | 10194.86 | ||
| 8 | 8 | 9752 | |||
| 15 | 13 | 86355 | |||
| 6 | 5 | 193796 | |||
| To calculate the future value of any future value we will use the following formula | |||||
| FV=PV*(1+i)^n | |||||
| i=interest rate | |||||
| n=no. of years | |||||
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