Use the future value formula to find the indicated value. n=41; i = 0.04; PMT= $107; FV = ? Substitute the values into the future value formula. Choose the correct answer below, and fill in the answer boxes to complete your choice. OA. FV= B. FV= (1- OC. FV= OD. FV= (1+
Use the future value formula to find the indicated value. n=41; i = 0.04; PMT= $107; FV = ? Substitute the values into the future value formula. Choose the correct answer below, and fill in the answer boxes to complete your choice. OA. FV= B. FV= (1- OC. FV= OD. FV= (1+
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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7. Please fill the option
![**Use the future value formula to find the indicated value.**
Given:
- \( n = 41 \)
- \( i = 0.04 \)
- \( PMT = \$107 \)
Find:
- \( FV = ? \)
---
Substitute the values into the future value formula. Choose the correct answer below, and fill in the answer boxes to complete your choice.
1. **Option A:**
\[
FV = \boxed{} \left( 1 + \boxed{} \right)^{41}
\]
2. **Option B:**
\[
FV = \boxed{} \left(1 - \boxed{} \right)
\]
3. **Option C:**
\[
FV = \boxed{ } \frac{(1 + \boxed{} )^{41} - 1}{\boxed{} }
\]
4. **Option D:**
\[
FV = \boxed{ } \frac{(1 - \boxed{} )^{41} + 1}{\boxed{} }
\]
To solve, you need to substitute the given values of \( n \), \( i \), and \( PMT \) into the correct future value formula.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F0335d89c-1e38-44bf-8e2e-69dc241551c2%2Fdbc83585-6d98-4f15-a34b-c225cbe8a38e%2Fashilvu_processed.jpeg&w=3840&q=75)
Transcribed Image Text:**Use the future value formula to find the indicated value.**
Given:
- \( n = 41 \)
- \( i = 0.04 \)
- \( PMT = \$107 \)
Find:
- \( FV = ? \)
---
Substitute the values into the future value formula. Choose the correct answer below, and fill in the answer boxes to complete your choice.
1. **Option A:**
\[
FV = \boxed{} \left( 1 + \boxed{} \right)^{41}
\]
2. **Option B:**
\[
FV = \boxed{} \left(1 - \boxed{} \right)
\]
3. **Option C:**
\[
FV = \boxed{ } \frac{(1 + \boxed{} )^{41} - 1}{\boxed{} }
\]
4. **Option D:**
\[
FV = \boxed{ } \frac{(1 - \boxed{} )^{41} + 1}{\boxed{} }
\]
To solve, you need to substitute the given values of \( n \), \( i \), and \( PMT \) into the correct future value formula.
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