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You want to deposit 12000 in a bank at an interest rate of 8 percent per year. What is the future value of this money after five years

You want to deposit 12000 in a bank at an interest rate of 8 percent per year. What is the future value of this money after five years
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You want to deposit 12000 in a bank at an interest rate of 8 percent per year. What is the future value of this money after five years

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User Joe Shamuraq
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1 Answer

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the value of the money is 16800, use the equation y=P(1+rt) y=12000(1+.08x5) y=16800

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User Anton Chikin
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