Asked by tlic
What is the future value of $4000 in a bank for 18 years at a annual interest rate of 6% rounded to the nearest cent.
Answers
Answered by
Reiny
five nearly identical questions in a row.
I did the first one for you, have you looked at where my values come from ?
This is the easiest of the five, what part of the question do you not understand?
I assume you have learned the formula
Future amount = presentvalue( 1 + i)^n
where i is the periodic interest rate expressed as a decimal, and n is the number of interest periods.
I did the first one for you, have you looked at where my values come from ?
This is the easiest of the five, what part of the question do you not understand?
I assume you have learned the formula
Future amount = presentvalue( 1 + i)^n
where i is the periodic interest rate expressed as a decimal, and n is the number of interest periods.