Account Holder Theodore Logan III Vernell Coles Tina Elliot Wayne Robinson Eunice Chung Kelly Cravens Amount Deposited $ 1,000 94,000 7,000 119,000 29,000 15,000 Annual Compounding Compounding Interest Rate Periods Per Year (M) Periods (Years) 18% 1 6 10 12 3 12 4 8 6 12 10 2 3 won won wo

The future value is computed as shown below:

= Present value x (1 + r)ⁿ

a. The amount is computed as follows:

= $ 1,000 x (1 + 0.18) ⁶

= $ 1,000 x 1.18⁶

= $ 2,699.55 Approximately

b. The amount is computed as follows:

= $ 94,000 x (1 + 0.10 / 12) ^{3 x 12}

= $ 94,000 x 1.008333333³⁶

= $ 126,729.09 Approximately

c. The amount is computed as follows:

= $ 7,000 x (1 + 0.12 / 4) ^{5 x 4}

= $ 7,000 x 1.03²⁰

= $ 12,642.78 Approximately

d. The amount is computed as follows:

= $ 119,000 x (1 + 0.08 / 6) ^{3 x 6}

= $ 119,000 x 1.013333333¹⁸

= $ 151,038.92 Approximately

e. The amount is computed as follows:

= $ 29,000 x (1 + 0.12 / 3)^{5 x 3}

= $ 29,000 x 1.04¹⁵

= $ 52,227.36 Approximately

f. The amount is computed as follows:

= $ 15,000 x (1 + 0.10 / 2) ^{3 x 2}

= $ 15,000 x 1.05⁶

= $ 20,101.43 Approximately