Think Break 18

Think Break 18 - Think Break #18 What's the Future Value...

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Unformatted text preview: Think Break #18 What's the Future Value Interest Factor for 9.7% for 5 years? How much will $85 be worth in 5 years invested at an annual rate of 9.7%? Think Break #18 Answer What's the Future Value Interest Factor for 9.7% for 5 years? = (1 + r)t = (1 + 0.097)5 = 1.588668 How much will $85 be worth in 5 years invested at an annual rate of 9.7%? = $85 x 1.588668 = $135.04 ...
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