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astraxan [27]
3 years ago
9

Paul wants to deposit $600 today for a vacation he plans to take after graduation. Which formula should he use to determine the

amount of money he will have available at the time of the vacation?
Mathematics
1 answer:
Vitek1552 [10]3 years ago
6 0

Answer:

Future value of a single amount

Step-by-step explanation:

Future value of a single amount - it is referred to as the amount of money that received after n year when money is deposit at the rate interest of i from the initial time. we can say that the total amount is the sum of principal money and interest value.

The formula used to calculate the Future Value of a single amount

Future value = Present value *[Future value factor]

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