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Future value = P × (1+ i)t `"present value" = "P" / (1 + i)^"t"` You want to deposit $12,000 in a bank at an interest rate of 8 percent per year. W…

Future value = P × (1+ i)t `"present value" = "P" / (1 + i)^"t"` You want to deposit $12,000 in a bank at an interest rate of 8 percent per year. W…
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future value = P × (1+ i)t `"present value" = "P" / (1 + i)^"t"` You want to deposit $12,000 in a bank at an interest rate of 8 percent per year. What is the future value of this money after five years?

asked
User NakedBrunch
by
9.0k points

1 Answer

5 votes

Answer:

I believe the answer is $17,631.94

Explanation:

12000(1.08)∧5=17,631.94

answered
User Rune Lyngsoe
by
7.9k points
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