You decide to deposit $ 500 at a local bank for three years at a 6 rate of interest What is the future value of your investment Draw a timeline to illustrate the problem Interest is compounded annually ...

The problem is illustrated in the time line below Per ...

You decide to deposit $ 500 at a local bank for three years at a 6% rate

Question:

You decide to deposit $ 500 at a local bank for three years at a 6% rate of interest. What is the of your investment? Draw a timeline to illustrate the problem. Interest is compounded annually. Future Value
Future value (FV) is the value of a current asset at a future date based on an assumed rate of growth. The future value (FV) is important to investors and financial planners as they use it to estimate how much an investment made today will be worth...