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1 year ago

PLEASE: Find The Ending Balence

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2 answers:

Nataliya [291]1 year ago

7 0

The ending balances of the following investments are as follows:

Investment 1 is $1,490.07.
Investment 2 is $1,073.83.
Investment 3 is $277.15.

<h3>What is the future value?</h3>

The future value refers to the present value compounded into the future at an interest rate.

The calculation of the future value can be done using the FV table or formula.

We can use an online finance calculator to determine the future value as below.

<h3>Data and Calculations:</h3>

1. $939 at 8% for 6 years:

N (# of periods) = 6 years

I/Y (Interest per year) = 8%

PV (Present Value) = $939

PMT (Periodic Payment) = $0

<u>Results:</u>

FV = $1,490.07

Total Interest = $551.07

2. $823 at 3% for 9 years:

N (# of periods) = 9 years

I/Y (Interest per year) = 3%

PV (Present Value) =$823

PMT (Periodic Payment) =$0

<u>Results:</u>

FV = $1,073.83

Total Interest = $250.83

3. $269 at 1# for 3 years:

N (# of periods) = 3 years

I/Y (Interest per year) = 1%

PV (Present Value) = $269

PMT (Periodic Payment) =0

<u>Results:</u>

FV = $277.15

Total Interest = $8.15

Thus, the ending balances of the following investments are Investment 1 is $1,490.07, Investment 2 is $1,073.83, and Investment 3 is $277.15.

Learn more about determining future values at brainly.com/question/2798584

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andre [41]1 year ago

7 0

The answer 8
Is you know is

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