Ask Question
28 March, 18:00

f the present value of an investment is $5,000, what will be its future value in three years if you apply a compound interest of 5 percent to it?

+3
Answers (1)
  1. 28 March, 18:22
    0
    6381.4078125 or $6381.41

    Step-by-step explanation:

    Pn - future value of P0

    P0 - original amount invested

    r - rate of interest

    n - number of compounding periods (months, years, etc.)

    Pn = P0 (1+r) n

    = $5000 (1+0.05) 5

    = 6381.4078125 or $6381.41
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “f the present value of an investment is $5,000, what will be its future value in three years if you apply a compound interest of 5 percent ...” in 📗 Mathematics if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers