Answer:
6 zeros
Step-by-step explanation:
5000000
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do you have any more information?
Answer:
FV= 1,000*(1.12^n)
Step-by-step explanation:
Giving the following information:
Initial investment= $1,000
Increase rate= 12% = 0.12
We need to formulate an exponential equation to show the value in n years.
<u>To calculate the Future Value, we need to use the following formula:</u>
FV= PV*(1+i)^n
Being:
FV= Future Value
PV= Initial Investment
i= increase rate
n= number of periods
FV= 1,000*(1.12^n)
<u>For example, for one year:</u>
FV= 1,000*(1.12^1)
FV= $1,120
For 3 years:
FV= 1,000*(1.12^3)
FV= $1,404.93
