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18-01-2021
Business

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Suppose you deposit $1,633.00 into and account 9.00 years from today into an account that earns 14.00%. How much will the account be worth 14.00 years from today

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ajeigbeibraheem ajeigbeibraheem

21-01-2021

Answer:

$3144.20

Explanation:

Using the formula of Future Value FV = PV(1 + R)^N

where;

Present Value PV = $1633

Rate R = 0.14

∴

FV = $1633(1 + 0.14)^5

FV = $1633(1.14)^5

FV = $3144.20

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