1 Calculate the future value after 3 years if $1000 is deposited at 4 5 simple interest 2 Calculate the future value after 5 years if $4000 is deposited at 3 simple interest Use difference equations to answer the question ...

1 Based on the information given y n y n1 00451000 when y 0 1000 Therefore the differenc ...

1. Calculate the future value after 3 years if $1000 is deposited at 4.5% simple interest. 2....

Question:

1. Calculate the after 3 years if $1000 is deposited at 4.5% simple interest.
2. Calculate the after 5 years if $4000 is deposited at 3% simple interest.
Use difference equations to answer the question.
Future Value
Future value (FV) is the value of a current asset at a future date based on an assumed rate of growth. The future value (FV) is important to investors and financial planners as they use it to estimate how much an investment made today will be worth...