Future value calculation without referring to the preprogrammed function on your financial calculator, use the basic...

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Future value calculation without referring to the preprogrammed function on your financial calculator, use the basic formula

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Answer 1

Answer #1

FV = PV * (1 + r)^n

PV = $1

r = 9%

n = 10

FV = 1 * (1 + 0.09)^10

FV = $2.3673636746

FV = $2.367

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Answer 2

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