Question

assuming saving is 3,000 times 10 years rate is 2% = 0.02 excel formula = fv (0.02,10-3000.00) future value (fv) is what

Answer 1

Future Value: 3,656.98

Explanation:

Present Value (P): 3000

Number of Time Periods (n): 10

Interest Rate Per Time Period (i): 2%

FV (Future Value) = P * (1 + i)^n

= 3000 * (1 + 0.02)^10

Future Value: 3,656.98