1. If a nurse deposits $1,000 today in a bank account and the interest is compounded annually at…

1. If a nurse deposits $1,000 today in a bank account and the interest is compounded annually at 12%, what will be the value of this investment: (Chapter 18)

a) five years from now? $1,000×FVF(12%,5) Use Table 18-1 on page 405

b) ten years from now? $1,000×FVF(12%,10)

c) fifteen years from now? $1,000×FVF(12%,15)

d) twenty years from now? $1,000×FVF(12%,20)

2. If the business manager deposits $200 in a savings account at the end of each year for twenty years, what will be the value of her investment:

a) at a compounded rate of 10%? $200×FVFA(10%,20) Using Table 18-3 on page 408

b) at a compounded rate of 14%? $200×FVFA(14%,20)

1. If a nurse deposits $1,000 today in a bank account and the interest is compounded annually at…

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