Compute the future value in year 10 of a $1450 deposit in year 1, and another...

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Question

Compute the future value in year 10 of a $1450 deposit in year 1, and another $1,230 deposit at the end of year 4 using an 10 percent interest rate

Answer 1

Answer #1

We use the formula:
A=P(1+r/100)^n
where
A=future value
P=present value
r=rate of interest
n=time period.

A=1450*(1.1)^9+1230*(1.1)^6

=$5598.04(Approx)

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Answer 2

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