SOLUTION: Calculate the future value of $2000 given that it will be held in the bank for 6 years and earn an annual interest rate of 6 percent
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Question 768677: Calculate the future value of $2000 given that it will be held in the bank for 6 years and earn an annual interest rate of 6 percent
Answer by oscargut(2103) (Show Source): You can put this solution on YOUR website!
Calculate the future value of $2000 given that it will be held in the bank for 6 years and earn an annual interest rate of 6 percent
FV = 2000(1.06)^6 =2837.04
Answer: $2837.04
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