SOLUTION: Find the future value of $1125 at 5.2% for four years if the account pays simple innterest

Question 1035993: Find the future value of $1125 at 5.2% for four years if the account pays simple innterest
Answer by Aldorozos(172) (Show Source): You can put this solution on YOUR website!
FV = PV(1+r)^n
PV = 1125
r = 5.2%/12 (monthly
n = 4*12 = 12
Here we are assuming monthly interest. If it is only annual interest then we have to set r = 5.2% and n = 4
You may use the following to calculate the future value:
http://www.investopedia.com/calculator/fvcal.aspx
Here is for annual
$1,377.89
RELATED QUESTIONS
Find the future value of the deposit if the account pays simple interest. $1000 at 2%... (answered by stanbon)

Find the future value of a $2000 deposit at 2.4% for 4 years if the account pays simple... (answered by khv_maths)

Find the future value of $2400 deposited at 8% for 6 years if the account... (answered by math_helper)

nikki deposits $200 at the end of every month in an account that pays 3.5%/a compounded... (answered by mathmate)

You deposit $10,000 in an account that pays 5.5% interest compounded quarterly. A.... (answered by greenestamps)

You deposit $10,000.00 in a account that pays 5% interest compound quarterly. A) Find... (answered by Theo)

Find the future value of $5800 deposited at 12% for 2 years and 3 months if the interest... (answered by srinivas.g)

Find the future value on a savings account with a principle of $4700 at 4% simple... (answered by Theo)

What is the future value of $4,000 in a bank account for 7 years at 5 percent compounded (answered by Alan3354)