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aechols1
Mar 31, 2009, 01:04 PM
I am pretty sure I did this right but I want to make sure... am I correct in solving for the present value?
It says the present value of $1,552.90 due in 10 years at 12%?

ROLCAM
Apr 1, 2009, 02:59 AM
You are slightly confused.
The use of your language has to be precise.

Is your question :-

If the present value is $1,552.90 , what would the future value be in 10 years at 12%?

If this is the question then the answer would be:-

If the present value is $1,552.90 , what would the future value be in 10 years at 12%?

1,552.90

1 1,552.90 1,739.25
2 1,739.25 1,947.96
3 1,947.96 2,181.71
4 2,181.71 2,443.52
5 2,443.52 2,736.74
6 2,736.74 3,065.15
7 3,065.15 3,432.97
8 3,432.97 3,844.92
9 3,844.92 4,306.31
10 4,306.31 4,823.07

The answer = $ 4,823.07