Compound interest – Accounting Questions
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Please provide your working notes (e.g. Excel, Word file). Round off your final answers to two decimal points.
- What is the future value of $5,000 in 10 years at 5%,compounded monthly?
- What is the future value of $10,000 in 8 years at 8%,compounded quarterly?
- If you receive $10,000 in 5 years, what is its value today if the appropriate interest rate is 8% and interest is compounded semi-annually?
- If you received $10,000 5 years back, what is its value today if the appropriate interest rate is 8% and interest is compounded monthly?
- At what annual rate of return can you triple your money in 8years if interest is compounded monthly?
- At what annual rate of return can you quadruple (means 4times) your money in 16 years, if interest is compounded quarterly?
- How many periods will it take you to quadruple (means 4times) your money at 7%, if interest is compounded semi-annually? how many years will it take?
- How many periods will it take $500 to grow to$8,000 if you believe you can earn interest at the rate of 9% compounded monthly? how many years will it take?
- What is the present value of $15,500 received in 10 years if interest of 1% is compounded monthly?
- What is the present value of $22,000 received in 5 years if interest of 1% is compounded quarterly?
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