You have $50 000 now to invest.If you can earn 10% per annum on your deposit,and can invest for 5 years,what will be the future value of your deposit (to the nearest dollar)at the end of the investment period?

Question

Quizplus · Accepted Answer

The future value of an investment can be calculated using the formula FV = PV * (1 + r)^n, where PV is the present value ($50,000), r is the annual interest rate (10% or 0.10), and n is the number of years (5). Plugging in the values: FV = 50,000 * (1 + 0.10)^5 = 50,000 * 1.61051 = $80,525.50, which rounds to $80,526.

You Have $50 000 Now to Invest