DEVRY FIN 515 Week 2 Problem Set
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FIN 515 Week 2 Problem Set Chapter 4 ( pages 132 – 136 ): 3 . Calculate the future value of $ 2000 in
a . five years at an interest rate of 5 % per year ; b . ten years at an interest rate of 5 % per year ; and c . five years at an interest rate of 10 % per year . d . Why is the amount of interest earned in part ( a ) less than half the amount of interest earned in part ( b )?
4 . What is the present value of $ 10,000 received a . twelve years from today when the interest rate is 4 % per year ; b . twenty years from today when the interest rate is 8 % per year ; and c . six years from today when the interest rate is 2 % per year ?