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You decide to deposit $500 at a local bank for one year at a 6% rate of interest What is the future value of your
You decide to deposit $500 at a local bank for one year at a 6% rate of interest What is the future value of your investment? Draw a timeline to illustrate the problem. (Click the icon to view the Future Value of $1 table Click the icon to view the Present Value of $1 table ) (Click the icon to view the Future Value of an Ordinary Annuity table ! (Click the icon to view the Present Value of an Ordinary Annuity table.) (Click the icon to view the Future Value of an Annuity Due table.) (Click the icon to view the Present Value of an Annuity Due table.) DHAH What is the future value of your investment? (Use the present value and future value tables, the formula method a financial ca sulator or a spreadsheet for your calculations. If using present and future value tables or the formula method, use factor amo rounded to five decimal places, X.XXXXX. Round your final answer to the nearest cent, $X.XX.) The future value of your investment is
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