GEN COMBO PERSONAL FINANCE; CONNECT ACCESS CARD
GEN COMBO PERSONAL FINANCE; CONNECT ACCESS CARD
12th Edition
ISBN: 9781260044416
Author: Jack R. Kapoor, Les R. Dlabay Professor, Robert J. Hughes
Publisher: McGraw-Hill Education
Question
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Chapter 1, Problem 4AE
Summary Introduction

To determine:

The future value of $2,000 after 5 years at 5.2% interest compounded annually.

Introduction:
Future value refers to the value that is to be received in future after considering the time value of money on a particular investment for a number of periods of time. It is the total amount to be received by an investor on the amount invested by him after certain period with the component of interest.

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