Business Finance Future Value

label Business
account_circle Unassigned
schedule 1 Day
account_balance_wallet $5

10,000 is placed in a savings account at 8% interest.  What is the account worth in 50 years?

25,000 is placed in a savings account paying 5.75% in it needs to grow to 85,000.  How many years will it take

Feb 17th, 2015

$10,000 multiplied by .08 is $800

$800 times 50 years is $40,000 + the original amount of $10,000=50,000


25,000 is placed in a savings account paying 5.75% in it needs to grow to 85,000.  How many years will it take?

$25,000 multiplied by .0575 is $14,375 earned each year.


Feb 17th, 2015

Did you know? You can earn $20 for every friend you invite to Studypool!
Click here to
Refer a Friend
...
Feb 17th, 2015
...
Feb 17th, 2015
Oct 21st, 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