Solution Manual Solution Manual Financial Accounting, 7e by Glenn Pfeiffer, Michelle Hanlon, Robert Magee 2026 , Solution Manual (Original and 100% Verified) (Complete And Verified Study material) (530pages) LEARNEXAMS

Compound Interest and the Time-Value of Money EXERCISES EA-1. a. Future value, 4%, 6 years: $6,000 x 1.26532 = $7,591.92 b. Future value, 6%, 6 years: $6,000 x 1.41852 = $8,511.12 c. Future value, 8%, 6 years: $6,000 x 1.58687 = $9,521.22 EA-2. a. Future value, 12%, 4 years: $4,800 x 1.57352 = $7,552.90 b. Future value, 3%, 16 quarters: $4,800 x 1.60471 = $7,702.61 c. Future value, 1%, 48 months: $4,800 x 1.612226 = $7,738.69 The last calculation relies on a future value factor that is not in the table at the end of Appendix A. The solution can be determined using a financial calculator or using Excel. The Excel calculation is as follows: