Computing the Future Value of a Single Sum
Response to the following problem:
Compute the future value (rounded to the nearest dollar) of the following investments:
1. $15,842 invested to earn interest at 6% compounded annually for 4 years.
2. $30,920 invested to earn interest at 4% compounded semiannually for 6½ years.
3. $6,846 invested to earn interest at 16% compounded quarterly for 5 years.
4. $959 invested to earn interest at 10% compounded semiannually for 25 years