to what amount will the following investment accumulate ? $2,513, invested today for 5 years at...

Question

Question

to what amount will the following investment accumulate ? $2,513, invested today for 5 years at 3 percent, compounded annually.

Answer 1

Answer #1

We need to find the Future value of $2513

FV =PV*(1+r)^n

=2513*(1+3%)^5

=$2913.26

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Answer 2

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