Question

What is the future value of $4000 in 2 years if it is invested at an...

What is the future value of $4000 in 2 years if it is invested at an interest rate of 6.00%?
$

You should set your calculator for at least four decimal places of accuracy.

Place your answer in dollars and cents.

Do not include a dollar sign or comma in your answer.

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Answer #1

Assuming annual compounding Future value = present value *(1+ Interest rate) number of periods Future value = 4000*(1+0.06)^2

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