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Adam Levine invested $100,000 in a fund that earns 8% annual interest, compounded annually. How much will his investment be worth in five years? Draw
Adam Levine invested $100,000 in a fund that earns 8% annual interest, compounded annually. How much will his investment be worth in five years? Draw a timeline to illustrate the problem. (Click the icon to view the Future Value of $1 table.) (Click the icon to view the Present Value of $1 table.) (Click the icon to view the Future Value of an Ordinary Annuity table.) (Click the icon to view the Present Value of an Ordinary Annuity table.) (Click the icon to view the Future Value of an Annuity Due table.) (Click the icon to view the Present Value of an Annuity Due table.) What is the future value of your investment? (Use the present value and future value tables, the formula method, a financial calculator, or a spreadsheet for your calculations. If using present and future value tables or the formula method, use factor amounts rounded to five decimal places, XXXXX Round your final answer to the nearest cent, $X.XX.) The future value of your investment is $
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