Find the Future Value in 24 years of $8443 to be invested today if you can earn a rate of return of 7.32%. (round to the nearest cent)
We use the formula:
A=P(1+r/100)^n
where
A=future value
P=present value
r=rate of interest
n=time period.
Hence
A=$8443(1+7.32/100)^24
=$8443*5.449240001
which is equal to
=$46007.93(Approx).
Find the Future Value in 24 years of $8443 to be invested today if you can...
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