Answer:
= 7
Step-by-step explanation:
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Answer:
2
Step-by-step explanation:
1+1=2 and 2=2
FV = PV / (1 +r)^n
Where FV = Future Value, PV = Present Value, r = inflation rate in %,
n = number of years.
PV = $38, r = 4%, n = 3 years.
FV = 38 / (1 + 4%)^3
= 38 / (1 + 0.04)^3
= 38 / (1.04)^3 = 33.782
Hence the value 3 years from now = $33.78
