What is the future value at the end of year

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1. For 2016, the U.S. population was reported as being 324,118,787. If the annual growth rate in the U.S. population is 1.8% annually for the next 24 years, what will the U.S. population be in 2040?

2. Assume that I deposit $7500 into an account exactly 10 years from today. How much will be in my account at the end of year 50, assuming that my account pays interest of 7.5% p.a.?

3. What is the future value at the end of year 15 of $10,000 deposited today into an account that pays interest of 4.5% p.a., but with daily compounding (assume 365 days per year)?

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Reference no: EM131510886

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