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FV = 2000(FVIF, 4%, 3) = 2000(1.1249) = $2249.8 by using the formula 2000(1.04) = $2249.8 At the beginning of your freshman year, your favorite
FV = 2000(FVIF, 4%, 3) = 2000(1.1249) = $2249.8 by using the formula 2000(1.04) = $2249.8 At the beginning of your freshman year, your favorite aunt and uncle deposit $10,000 into a 4-year bank certificate of deposit (CD) that pays 5% annual interest. You will receive the money in the account (including the accumulated interest) if you graduate with honors in 4 years. How much will there be in the account after 4 years? For FVIF and PVIF n= number of spaces
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