The value of investment after 5 years.Given information:Amount invested: $40,000Rate of interest: 2\% Per annumTime: 5 years.

Brittney Lord

Brittney Lord

Answered question

2021-08-17

The value of investment after 5 years.
Given information:
Amount invested: $40,000
Rate of interest: 2% Per annum
Time: 5 years.

Answer & Explanation

l1koV

l1koV

Skilled2021-08-18Added 100 answers

Calculation:
FV=Amount(1+R%)n
FV=$40,000+1
=40,000102100
=40,000×1.104
=$44164
So, the value of investment after 5 years is $44164.
Conclusion:
So, the value of investment after 5 years is $44164.

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