Solve each problem. 1. Future Value Calculate the future value of $1000 after 2 years if deposited
Question:
1. Future Value Calculate the future value of $1000 after 2 years if deposited at 2.1% interest compounded monthly.
2. Future Value Calculate the future value of $1000 after 1 year if deposited at 2.19% interest compounded daily.
3. Future Value Six thousand dollars is deposited in a savings account at 2.7% interest compounded monthly. Find the balance after 3 years and the amount of interest earned during that time.
4. Future Value Two thousand dollars is deposited in a savings account at 4% interest compounded semiannually. Find the balance after 7 years and the amount of interest earned during that time?
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...
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Related Book For 
Finite Mathematics and Its Applications
ISBN: 978-0134768632
12th edition
Authors: Larry J. Goldstein, David I. Schneider, Martha J. Siegel, Steven Hair
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