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Compute the future value of $1,580 if the appropriate rate is 5.4% and you invest the money for four years?

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Answer:

Compounding – The process of determining the value of a cash flow or series of cash flows at some point in the future when compound interest is applied.

Discounting – The process of finding the present value of a cash flow or series of cash flows; the reverse of compounding.

Time Line – A graphical representation used to show the timing of cash flows.  If not otherwise stated, assume that the cash flow(s) occur at the end  

Step-by-step explanation:

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