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Saving Money: Future value of an investment when we save money in an account, we typically deposit it with some account that will givee Us a percent interest. If we put a dollar into g piggy bank and never touch it again, in a yedr IT will sfill only be one dollar. If we put a dollar into a savings account that is awarding us interest then that dollar could turn into $1.50 in a year, How much we gain is based on the Interest and the compounding period. Compounding period refers to how often the interest IS calculated on the current amount, Below is the formula used to find the future value of an investment based on interest and compounding periods. FV = P (1+) nt %3D

Saving Money: Future value of an investment when we save money in an account, we typically deposit it with some account that will givee Us a percent interest. If we put a dollar into g piggy bank and never touch it again, in a yedr IT will sfill only be one dollar. If we put a dollar into a savings account that is awarding us interest then that dollar could turn into $1.50 in a year, How much we gain is based on the Interest and the compounding period. Compounding period refers to how often the interest IS calculated on the current amount, Below is the formula used to find the future value of an investment based on interest and compounding periods. FV = P (1+) nt %3D

Algebra and Trigonometry (6th Edition)
Algebra and Trigonometry (6th Edition)
6th Edition
ISBN:9780134463216
Author:Robert F. Blitzer
Publisher:Robert F. Blitzer
ChapterP: Prerequisites: Fundamental Concepts Of Algebra
Section: Chapter Questions
Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...
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Example 4: A brand new Jeep Wrangler cost $29,000. It is expected to decrease in 126 per year. How much do vou expect it to be worth in 7 years? Part b: Ho w much did the car lose in value over 7 years? y=29,001-0.12) = ||51.59229 Saving Money: Future value of an investment when we save money in an acCount, we typically deposit it with some account that will give Us a percent interest. If we put a dollar into g piggy bank and never touch it again, in a year it will still only be one dollar. If we put a dollar into a savings account that is awarding US inferest then that dollar could turn into $1.50 in a vear, How much we gain is based on fhe inferest and the compounding period. Compounding period refers to how often the interest IS calculated on the current amount. Below is the formula used to find the future value of an investment based on interest and compounding periods. FV = P (1+) What do the variables stand for? FV What are the different compounding periods? Semi-annual Annual Quarterly Monthly Weekly Daily
Transcribed Image Text:Example 4: A brand new Jeep Wrangler cost $29,000. It is expected to decrease in 126 per year. How much do vou expect it to be worth in 7 years? Part b: Ho w much did the car lose in value over 7 years? y=29,001-0.12) = ||51.59229 Saving Money: Future value of an investment when we save money in an acCount, we typically deposit it with some account that will give Us a percent interest. If we put a dollar into g piggy bank and never touch it again, in a year it will still only be one dollar. If we put a dollar into a savings account that is awarding US inferest then that dollar could turn into $1.50 in a vear, How much we gain is based on fhe inferest and the compounding period. Compounding period refers to how often the interest IS calculated on the current amount. Below is the formula used to find the future value of an investment based on interest and compounding periods. FV = P (1+) What do the variables stand for? FV What are the different compounding periods? Semi-annual Annual Quarterly Monthly Weekly Daily
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