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Calculate the future value of $ 9,000 in a. 5 years at an interest rate of...

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Question

Finance

Calculate the future value of $ 9,000 in

a. 5 years at an interest rate of 5 % per year.

b. 10 years at an interest rate of 5 % per year.

c. 5 years at an interest rate of 10 % per year.

d. Why is the amount of interest earned in part ?(a?) less thanhalf the amount of interest earned in part ?(b?)?

Answer & Explanation Solved by verified expert
3.6 Ratings (473 Votes)
Future Value FV Present Value 1 interest raten Present value 9000 Interest rate or r 5 Time or n 5 as per the above formula FV 900010055 FV 9000 1276 FV 1148653 Interest    See Answer
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