Answer:
$58,204.67
Explanation:
The computation of the fund contains at the closing of six years is shown below:
Given that
Present value = $46,000
Compound interest rate, i = 4%
Period = 6 years
Based on the above information
As we know that
Future value = Present value × (1 + interest rate)^number of years
So,
= $46,000 × (1 + 0.04)^6
= $58,204.67
