Tuesday, 24 June 2014

Formula's for single sum calculations

To compute future value (fv) of a single sum, use Table A1 in the appendix and the formula: fv = pv * factor.
To find the present value (pv) of a known future amount, use Table A2 in the appendix and the formula pv = fv * factor.You invest $3000 for 8 years and expect to earn 9%, on average, per year. What is the fv ? Solve, using Table A1.

You invest $3000 for 8 years and expect to earn 9%, on average, per year. What is the fv ? Solve, using Table A1.

Please show the work

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