Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

What is the future value ( FV ) of $ 7 2 , 0 0 0 in 2 5 years, assuming the interest rate is

What is the future value (FV) of $72,000 in 25 years, assuming the interest rate is 5.5% per year? Round to the nearest dollar.

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_2

Step: 3

blur-text-image_3

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

Contemporary Financial Management

Authors: R. Charles Moyer, James R. McGuigan, William J. Kretlow

11th Edition

0324653506, 978-0324653502

More Books

Students also viewed these Finance questions

Question

3. Applying: Using a general concept to solve a particular problem.

Answered: 1 week ago

Question

Be able to cite the advantages of arbitration

Answered: 1 week ago