Future Value of a Single Investment
Easytime value of moneycompound interest
What is the approximate future value of $10,000 invested for 3 years at 5% interest compounded annually?
- A$10,500
- B$11,025
- C$11,576
- D$12,155
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Answer: C. $11,576
Use F = P(1 + i)ⁿ = $10,000(1.05)³ = $11,576.25, or approximately $11,576.
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