Unformatted text preview: $1000 dollars a month it will determine how much they can borrow. Future value The value of an amount that will grow at a certain interest rate over a period of time. This is used in retirement plans. People can use this to determine if the amount they have in their retirement plans will be enough when they retire. Future value of annuity This is the sum of the future value of each payment. A person can use this to determine how much money they will have after a period of time and their money is gaining an interest....
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This note was uploaded on 05/13/2011 for the course FIN 200 taught by Professor Williams during the Spring '08 term at University of Phoenix.
- Spring '08
- Time Value Of Money