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15-10-2020
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What is the value on January 1, 2026, of $40,000 deposited on January 1, 2019, which accumulates interest at 12% compounded annually

Respuesta :

15-10-2020

Answer:

$88,427.

Explanation:

Use the Time Value of Money Techniques to find the value in 2026 (Future Value)

Where,

Pv = - $40,000

i = 12 %

Pmt = $0

P/yr = 1

n = 7

Fv = ?

Using a Financial calculator, the Future Value (Fv) is $88,427.26 or $88,427.

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