Suppose that the interest rate is 4 percent. Instructions: Enter your answers rounded to 2 decimal places. a. What is the future value of $100 four years from now? How much of the future value is total interest? 2$ b. By how much would total interest be greater at an interest rate of 6 percent than at an interest rate of 4 percent?

ENGR.ECONOMIC ANALYSIS
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Suppose that the interest rate is 4 percent.
Instructions: Enter your answers rounded to 2 decimal places.
a. What is the future value of $100 four years from now?
$
How much of the future value is total interest?
$
b. By how much would total interest be greater at an interest rate of 6 percent than at an interest rate of 4 percent?
%24
Transcribed Image Text:Suppose that the interest rate is 4 percent. Instructions: Enter your answers rounded to 2 decimal places. a. What is the future value of $100 four years from now? $ How much of the future value is total interest? $ b. By how much would total interest be greater at an interest rate of 6 percent than at an interest rate of 4 percent? %24
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