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Where did I go wrong with this answer? 3. What is the future value in five years of $1,500 invested at an interest rate of
Where did I go wrong with this answer?
| 3. What is the future value in five years of $1,500 invested at an interest rate of 4.95%? | |||||||
| PV | 1500 | FV = PV(1 + R)n | |||||
| NPER | 5 | Years | FV = 1500(1 + 0.0495)5 | ||||
| RATE | 4.95% | FV = $1,871.25 | |||||
| FUTURE VALUE: | $1,871.25 |
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Accounting Principles
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
10th Edition
1119491630, 978-1119491637, 978-0470534793
