Use the future value formula to find the indicated value.

n=42; i=0.03; PMT=$109; FV = ?

FV = $ ______ (round to nearest cent)

Question

Use the future value formula to find the indicated value.n=42​; i=0.03​; PMT=$109​; FV = ?FV = $ ______ (round to nearest cent)﻿

Yefim S. · Accepted Answer

FV = PMT ((1  + i)n - 1)/i = 109((1 + 0.03)42 - 1)/0.03 = $8940.53

Use the future value formula to find the indicated value. n=42; i=0.03; PMT=$109; FV = ? FV = $ ______