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33) Future value. What is the future value of a 10-year investment of $1000 at an APR of 9% compounded monthly? Explain what your answer
33) Future value. What is the future value of a 10-year investment of $1000 at an APR of 9% compounded monthly? Explain what your answer means. Present value. What is the present value of an investment that will be worth $2000 at the end of five years? Assume an APR of 6% compounded monthly. Explain what your answer means. Doubling again. You have invested $2500 at an APR of 9%. Use the Rule of 72 to estimate how long it will be until your investment reaches S5000, and how long it will be until your investment reaches $10,000
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