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15 March, 16:40

find the future value of 10000 for 5 years if the annual interest rate is 8 percent. what would be the future value if the interest rate is a simple interest rate?

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  1. 15 March, 16:43
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    To find the simple interest, we multiply $10000 * 0.08 * 5 to get that: $4000 is the interest gained after 5 years.

    The final capital or future value would be $14.000.
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