Help in solving financical word problem

label Algebra
account_circle Unassigned
schedule 1 Day
account_balance_wallet $5

Classify the financial problem. Assume a 6% interest rate compounded annually.

Find the value of a $1,000 certificate in 4 years. (round  to the nearest cent.)
Nov 17th, 2014

Future value = $1,000 * (1+0.06)^4

Future value =1,262.5

I hope, it will helpful for you.


Nov 17th, 2014

Studypool's Notebank makes it easy to buy and sell old notes, study guides, reviews, etc.
Click to visit
The Notebank
...
Nov 17th, 2014
...
Nov 17th, 2014
Sep 20th, 2017
check_circle
Mark as Final Answer
check_circle
Unmark as Final Answer
check_circle
Final Answer

Secure Information

Content will be erased after question is completed.

check_circle
Final Answer