Answered

At Westonci.ca, we make it easy to get the answers you need from a community of informed and experienced contributors. Experience the convenience of finding accurate answers to your questions from knowledgeable professionals on our platform. Our platform offers a seamless experience for finding reliable answers from a network of knowledgeable professionals.

Find the future value of $10,000 invested now after five years if the annual interest rate is 8 percent. What would be the future value if the interest rate is a compound interest rate?.

Sagot :

16kayla16

Answer:

$4,000

Explanation:

P- percent

r-rate

t-time

P: 10000

R:8 but u have to move it two spots so it would be 0.08

T:5 years

10,000(0.08) (5) = 4,000

$4,000

That's how I do it. I hope it helps!

Thank you for your visit. We are dedicated to helping you find the information you need, whenever you need it. We hope you found this helpful. Feel free to come back anytime for more accurate answers and updated information. Thank you for visiting Westonci.ca, your go-to source for reliable answers. Come back soon for more expert insights.