Future value calculationWithout referring to the preprogrammed function on your financial calculator, use the basic formula for future value along with the given interestrate, r, and the number ofperiods, n, to calculate the future value of$1 in the case shown in the following table.(Click on the icon located on thetop-right corner of the data table below in order to copy its contents into aspreadsheet.)

Interestrate, r Number ofperiods, n

12% 2

The future value of$1 is $_________. (Round to three decimalplaces.)