A principal, $7000, is invested at 9% interest for eight years. Determine its future value if the

Question:

A principal, $7000, is invested at 9% interest for eight years. Determine its future value if the interest is compounded

(a) annually

(b) semi-annually

(d) continuously

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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