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In this part, you needto find the future value of an investment in 3 different ways. Consider the following question: Find the future value (FV)
In this part, you needto find the future value of an investment in 3 different ways. Consider the following question:
Find the future value (FV) of $2,000 invested to earn 10% annuallly 5 years from now.
A. Calculate the FV using time line (Find the FV at each year of the time line)
Time Line | 0 | 1 | 2 | 3 | 4 | 5 |
B. Calculate the FV using the FV formula (Apply the FV formula by referencing the cells)
Formula | PV | I | N | FV |
C. Calculate the FV using the excel function (reference the cells)
Rate | Nper | PMT | PV | FV |
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