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Question : Using time value of money tables, calculate the following The : 6567

Using time value of money tables, calculate the following The future value of $450 six years from now at 7 percent The future value of $800 saved each year for 10 years at 8 percent. The amount that person would have to deposit today (present value)at a 6 percent interest rate in order to have $1,000 five years from now. The amount that a person would have to deposit today in order to be able to take out $500 a year for 10 years from an account earning 8 percent Elaine Romberg prepares her own income tax return each year. A tax preparer would charge her $60 for this service. Over a period of 10 years, how much does Elaine gain from preparing her own tax return? Assumes she can earn 3 percent on her savings. If you desire to have $20,000for a down payment for a house in five years, what amount would you need to deposit today? Assume that your money will earn 5 percent. Pete Morton is planning to go to graduate school in a program of study that will take three years. Pete wants to have $10,000 available each year for various school and living expenses. If he earn 4 percent on his money, how much must be at the start of his deposit studies to be able to withdraw $10,000 a year for three years?