If $10,000 is invested at 1% per month, the future value S at any time t (in

Question:

If $10,000 is invested at 1% per month, the S at any time t (in months) is given by S = 10,000(1.01)t.
(a) What is the amount after 1 year?
(b) How long before the investment doubles?
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...