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Posted on Sep 20, 2024

If the present value of an investment is $500 and the interest rate is 6%, how much will the investment be worth in 12 years?

What type of problem is this: lump sum or annuity?

Fill in each of the following (Note: one of the answers is unknown write ?):

PV =

FV =

CF =

t =

r =

Draw a time line

Write the appropriate formula.

Solve the problem.

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