Answer:
FV= $1,397.1
Step-by-step explanation:
Giving the following information:
Initial investment (PV)= $1,250
Interest rate (i)= 2.25% compounded annually
Number of periods (n)= 5 years
<u>To calculate the future value, we need to use the following formula:</u>
FV= PV*(1+i)^n
FV= 1,250*(1.0225^5)
FV= $1,397.1
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Answer:
My I don't know it is stupied!
Step-by-step explanation:
