Use the future value formula to find the indicated value. n equals 24​; i equals 0.03​; PMT equals $ 82​; FV = ?

Question

Just need a quick answer to finish up work, thank you!

Answer 1

hello Michael, lets use the future value formula:

FV = Pv (1+r)^N

FV=?

PV= $82.00

I or r =0.03

N = 24

FV = 82.00 (1+ 0.03^24

FV =82.00 (1.03) ^24

FV = 82.00 (2.03)

FV= $166.69 ------> Ansr

Hope this helps !