Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Question 3 1 pts If the interest rate is 4 % and the average inflation rate is 2 % , what is the approximate future

Question 3
1 pts
If the interest rate is 4% and the average inflation rate is 2%, what is the approximate future value of $15,000 in 10 years?
$22,204
$15,900
$18,285
$17,949
image text in transcribed

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Essentials Of Investments

Authors: Zvi Bodie, Alex Kane, Alan J. Marcus

6th Edition

0073226386, 978-0073226385

More Books

Students also viewed these Finance questions

Question

Aware of differences in the role of employees unions.

Answered: 1 week ago