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Without referring to the preprogrammed function on your financial calculator, use the basic formula for...

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Finance

Without referring to the preprogrammed function on your financial calculator, use the basic formula for future value along with the given interest rate, r, and the number of periods, n, to calculate the future value of $1 in the case shown in the following table.

Interest rate, r

Number of periods, n

4%

9

Part 1

The future value of $1 is

$___ (Round to three decimal places.)

Answer & Explanation Solved by verified expert
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