Products

Holooly Rewards

We are determined to provide the latest solutions related to all subjects FREE of charge!

Please sign up to our reward program to support us in return and take advantage of the incredible listed offers.

Enjoy Limited offers, deals & Discounts by signing up to Holooly Rewards Program

Holooly Ads. Manager

Advertise your business, and reach millions of students around the world.

Holooly Tables

All the data tables that you may search for.

Holooly Arabia

For Arabic Users, find a teacher/tutor in your City or country in the Middle East.

Holooly Sources

Find the Source, Textbook, Solution Manual that you are looking for in 1 click.

Holooly Help Desk

Need Help? We got you covered.

Chapter 1

Q. 1.10

Future worth/compound interest tables. You have $10K in an account earning 10% per year. What will be in the account in 5 years?

Step-by-Step

Verified Solution

Because you know P and want to find F, use the F/P factor. Because i is 10%, use the 10% table. To find the correct factor, go down the F/P column to where it crosses the n = 5 row. The factor is 1.611.

P/A F/A A/P A/F P/F F/P
n (P/A, i%, n) (F/A, i%, n) (A/P, i%, n) (A/F, i%, n) (P/F, i%, n) (F/P, i%, n) n
1 0.909 1.000 1.100 1.000 0.909 1.100 1
2 1.736 2.100 0.576 0.476 0.826 1.210 2
3 2.487 3.310 0.402 0.302 0.751 1.331 3
4 3.170 4.641 0.315 0.215 0.683 1.464 4
5 3.791 6.105 0.264 0.164 0.621 1.611 5
6 4.355 7.716 0.230 0.1296 0.5645 1.772 6
7 4.868 9.487 0.205 0.1054 0.5132 1.949 7
8 5.335 11.436 0.187 0.0874 0.4665 2.144 8
9 5.759 13.579 0.174 0.0736 0.4241 2.358 9
10 6.145 15.937 0.163 0.0627 0.3855 2.594 10
11 6.495 18.531 0.154 0.0540 0.3505 2.853 11
12 6.814 21.384 0.147 0.0468 0.3186 3.138 12
13 7.103 24.523 0.141 0.0408 0.2897 3.452 13
14 7.367 27.975 0.136 0.0357 0.2633 3.797 14
15 7.606 31.772 0.131 0.0315 0.2394 4.177 15

F = P(F/P, 10%, 5) = $10,000(1.611) = $16,110