Answer:
FV= $3,725.07
Step-by-step explanation:
Giving the following information:
Initial investment (PV)= $3,294
Number of periods (n)= 5 years
Interest rate (i)= 2.6% = 0.026
<u>To calculate the future value (FV), we need to use the following formula:</u>
FV= PV*(1+i)^n
FV= 3,294*(1.026^5)
FV= $3,725.07
To do it without a calculator:
10% of 67 is 6.7
6.7 x 8 is 53.6 (80%)
1% of 67 is .67
53.6 - .67 is 52.93 (79%)
Answer:
b
Step-by-step explanation:
