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IrinaK [193]
3 years ago
11

Suppose you deposit $1,682.00 into and account 4.00 years from today into an account that earns 5.00%. How much will the account

be worth 18.00 years from today
Business
1 answer:
notsponge [240]3 years ago
3 0

Answer:

FV= $3,330.25

Explanation:

Giving the following information:

Initial investment= $1,682.00

Number of periods= 14 years

Interest rate= 5% compounded annually

<u>To calculate the future value, we need to use the following formula:</u>

FV= PV*(1+i)^n

PV= present value

i= interest rate

n= number of years

FV= 1,682*(1.05^14)

FV= $3,330.25

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                         Anson Corporation

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Assets

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