A service contract for a video projection system costs $70 a year. You expect to use the
Question:
A service contract for a video projection system costs $70 a year. You expect to use the system for five years. Instead of buying the service contract, what would be the future value of these annual amounts after five years if you earn 3 percent on your savings?
Future ValueFuture 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...
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
70 53...View the full answer
Answered By
Stanley Ndabaru
I have graduated with a bachelors degree in Mathematics and Computer Science and planning to pursue a masters degree in the field of mathematics. I've been working as an associate lecturer for the past 2 years. I've been mentoring students and helping them with difficult questions in the field of Mathematics, computer science, and statistics. My aim is to make sure that my students understand the concepts and how to apply them in their projects and revision.
0 Reviews
10+ Question Solved
Related Book For 
Focus On Personal Finance
ISBN: 9780077861742
5th Edition
Authors: Jack R. Kapoor, Les R. Dlabay Professor, Robert J. Hughes, Melissa Hart
Question Posted:
