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Time Value of Money FV = PV (1 + r) t Assume you deposit $1,000 today in an account that pays 8 percent interest. How

Time Value of Money FV = PV (1 + r)^t

Assume you deposit $1,000 today in an account that pays 8 percent interest. How much will you have in 4 years? Answer: ___________________ (explain how you obtained the number)

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