FIN 419 ASSIST Perfect Education/fin419assist.cofi FIN 419 ASSIST Perfect Education/fin419assist.cofi | Page 19

What is the value of the savings bond at the end of year five ?
a. What is the value of the savings bond at the end of year five ?
b. What is the value of the savings bond at the end of year six?
c.
What is the value of the savings bond at the end of year
seven?
d. What is the value of the savings bond at the end of year eight?
e. What is the value of the savings bond at the end of year nine?
f. What is the value of the savings bond at the end of year ten?
P 3– 8
a. Use the present value formula, PV = FV*---
b. Use the TVM keys from a calculator.
c. Use the TVM function in a spreadsheet.
P3-15
Future Value. YOU are a new employee with the metro daily
planet. The planet offers three different retirement plans. Plans 1
starts the first day of work and puts $1,100 away in your retirement
acc at the end of every year for 40 years. Plan 2 starts after 10 year
and puts away $2,100 every year for year. Plan 3 starts after 20 year