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* 3. The future value of $100 received today and deposited at 6 percent for four years is (2 points) Enter your answer
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Answer #1

Answer :

Calculation of Future Value

Future Value = Present value * ( 1 + r)n

Present value = 100

r is rate of interest i.e 6% or 0.06

n is number of years i.e 4

Future Value = 100 * ( 1 + 0.06)4

= $126.247696 or $126.25

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