Suppose you deposit $116 today, $135 in one year, and $885 in two years in an account that pays an annual rate of interest of 14.1%. How much money will be in the account after …

Question

asked Mar 28, 2021 205k views

1 Answer

Monie Corleone · Answer 1 · 2021-04-01T15:46:58+0000

Answer:

The answer is $1357.85

Step-by-step explanation:

Future value= Σ C(1+i)^n

FV = 116(1.141^3) + 135( 1.141^2) + 885(1.141) = $1357.85