Luis wants to know how much he will have available to spend on his trip to...
Luis wants to know how much he will have available to spend on his trip to Belize in three years if he deposits $2400 today at an interest rate of 7%.
If he deposits $2400 today at an annual interest rate of 7 percent, the amount Luis will have available to spend on his trip to Belize in three years is $
Homework Answers
Future Value = Principal * ( 1+ Rate of Interest)^ Time
= $ 2400 * ( 1+ 7%)^3
= $ 2,940.1032
Answer : $ 2,940.10
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