Question 1
What is the future value of $1,600after4years if the appropriate interest rate is8%, compounded semiannually?
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$2,219.33
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$2,189.71
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$2,015.87
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$2,116.67
Question 2
What is the present value of $1,800discounted back6years if the appropriate interest rate is5%, compounded semiannually?
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$1,338.40
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$1,307.32
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$1,360.33
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$1,316.14