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(2) Suppose you deposit a certain amount of money into a savings account that earns compound monthly interest, and you want to calculate you will
(2) Suppose you deposit a certain amount of money into a savings account that earns compound monthly interest, and you want to calculate you will have after a specific amount number of months. The formula is:
F = P * (1 +i)t
- Where the terms in the formula are as follows:Fis the future value of the account after the specified amount of time.
- Pis the present value, or the amount that you want deposit.
- iis the monthly interest rate.
- tis the number of months that you plan to let the money sit in the account.
*Must follow the following format in java*
function futureValue(P, i, t) {
// Put your solution to Exercise #2 here.
}
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