Help! Math is killing me!

FratBro23
Category:
Business & Finance
Price: $10 USD

Question description

If you look at the formula to calculate the dollar amount of $1 you put into savings today, you see that it is fv = pv*((1+i)^n). The variables are fv = future value, pv = present value, i = interest rate per period, and n = the number of periods. In the formula, n is an exponent. 

*What does the exponent in this case state that you need to do mathematically to the (1 + i) segment of the formula? 

*Select an interest rate as well as a different number of periods.

*How much money would you have at the end if you invested $1 today (pv)?


Tutor Answer

(Top Tutor) Daniel C.
(997)
School: Boston College
PREMIUM TUTOR
Studypool has helped 1,244,100 students
Ask your homework questions. Receive quality answers!

Type your question here (or upload an image)

1831 tutors are online

Brown University





1271 Tutors

California Institute of Technology




2131 Tutors

Carnegie Mellon University




982 Tutors

Columbia University





1256 Tutors

Dartmouth University





2113 Tutors

Emory University





2279 Tutors

Harvard University





599 Tutors

Massachusetts Institute of Technology



2319 Tutors

New York University





1645 Tutors

Notre Dam University





1911 Tutors

Oklahoma University





2122 Tutors

Pennsylvania State University





932 Tutors

Princeton University





1211 Tutors

Stanford University





983 Tutors

University of California





1282 Tutors

Oxford University





123 Tutors

Yale University





2325 Tutors