You may attempt this question 3 more times for credit wat is the future value of

Question

You may attempt this question 3 more times for credit wat is the future value of investing $3000 for 20 consecutive years beginning one year from today if the interest rate is 4.00%? You should set your calculator for at least four decimal places of accuracy. 1'll remind you of this from time to time but this is a working rule throughout the semester Place your answer in dollars and cents. Do not include a dollar sign or comma in your answer, This is another rule that ll remind you of but should be a working rule throughout the semester

Explanation / Answer

Answer is : Future value = $6573.36 computation of Future value Amount Invested =$3000 number of years =20 years rate of inteerst =4% Future value = Amount invested * Future value fcator at 4% for 20years Future value fcator at 4% for 20years =2.19112 Future Value =$3000*2.19112 =$6573.36

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