Answer:
Results are below.
Explanation:
Giving the following information:
Initial investment= $1,000
Annual interest rate= 6% = 0.06
Number of periods= n
To calculate the future value after "n" periods, we need to use the following formula:
FV= PV*(1+i)^n
For example:
n= 6 years
FV= 1,000*(1.06^6)
FV= $1,418.52
