Can someone please help and explain
1 answer:
Answer:
Step-by-step explanation:
The future value formula is FV=PV(1+i)^n, where the present value PV increases for each period into the future by a factor of 1 + i. value PV increases for each period into the future by a factor of 1 + i.
fv = future value
pv = present value
r = annual interest rate ( decimal number)
n= period
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2n - 7 × 1 = 15 × 3
2n - 7 = 45
2n = 45 + 7
2n = 52
n = 26
Have a nice days.........