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HUHTCWUIR. IVIUUUIC J Cluss SSIYICI Score: 0 of 1 pt 1 of 8 (0 complete HW Score: 0%, 0 of 8 pts P5-4 (similar to) Question H
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Answer #1

The future value of a single cash flow invested today is calculated using the following equation

Future value = Present value \times ( 1 + interest rate)n

Future value = $ 13,000 \times ( 1 + 0.08) 15

The future value is $ 41,238.20

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