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The future value of $2000 earning 3% interest for 1 year is

Sagot :

Starleydewidn

Answer:  Ending Balance:: $2,060.00

Explanation:

Gauravsingh23VTidn

$2,060.00 is the future value of $2000 earning 3% interest for 1 year.

What is future value and present value?

The quantity of cash that has to be paid in order to accomplish a particular future goal is known as the present value. The calculation is shown below-

Future Value = Present\ Value ( 1+ r )^n

Future Value = 2000 ( 1+ 0.03 )^1

Future Value = $2060

Thus, it is $2,060.00

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