For each of the following, compute the future value (Do not round intermediate calculations and round your final answers to 2 decimal places. (e. g., 32.16)): Present Value Years Interest Rate Future Value $ 2,250 11 13 % $ 8,752 7 9 76,355 14 12 183,796 8 6

1. $8,630.69

2. $15,999

3. $373,155.46

4. $292.942.90

Explanation:

The formula for calculating future value = P(1 + r)^n

P = Present value

R = interest rate

N = number of years

1. $ 2,250 (1 + 0.13)^11 = $8,630.69

2. 8,752 (1 + 0.09)^7 = $15,999

3. 76,355 (1 + 0.12)^14 = $373,155.46

4. 183,796(1 + 0.06)^8 = $292.942.90

I hope my answer helps you

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