If you start with $2,500 today, approximately how much will you have in 5 years if you can earn 4% each year?

Name: If you start with $2,500 today, approximately how much will you have in 5 years if you can earn 4% each year?
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Question

Quizplus · Accepted Answer

To find the future value of an investment with compound interest, use the formula: FV = PV * (1 + r)^n, where PV is the present value ($2,500), r is the annual interest rate (0.04), and n is the number of years (5). Calculating this gives: $2,500 * (1 + 0.04)^5 = $3,041.

If You Start with $2,500 Today, Approximately How Much Will