Question

Joshua Kelly estimates that taking some classes would result in earning $11,100 more a year for the next 20 years. Based on an annual

interest rate of 8 percent, calculate the future value of these classes. Use Exhibit 1-B. (Round time value factor to 3 decimal places
and final answer to 2 decimal places.)

Answer 1

$507 958.20

Explanation:

11 100 x table value for 20 years , 8%

11,100 x 45.762 = $ 507,958.20