Single choice6)The formula used to calculate the future value of an amount is:1/(1=r) n(1+r) n(1+r) x n
Question
Single choice6)The formula used to calculate the future value of an amount is:1/(1=r) n(1+r) n(1+r) x n
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Solution 1
The formula used to calculate the future value of an amount is not correctly written in your question. The correct formula for calculating the future value (FV) of an amount is:
FV = PV * (1 + r)^n
Where:
- PV is the present value or the initial amount of money.
- r is the interest rate per period Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study prob
Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solv
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