$1000 is invested for 3 months at an annual simple interest rate of 12%. (a) How much...

Question:

$1000 is invested for 3 months at an annual simple interest rate of 12%.
(a) How much interest will be earned?
(b) What is the of the investment after 3 months?
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...