Answer:
FV= $8,739.38
Step-by-step explanation:
Giving the following information:
Initial investment (PV)= $6,100
Number of periods (n)= 12*12= 144
Interest rate (i)= 0.03/12= 0.0025
<u>To calculate the future value (FV), we need to use the following formula:</u>
FV= PV*(1 + i)^n
FV= 6,100*(1.0025^144)
FV= $8,739.38
Answer:
y= 1x + -5
Step-by-step explanation:
y= mx + b