The value of investment after 5 years.Given information:Amount invested: $40,000Rate of interest: 2\% Per annumTime: 5 years.

Brittney Lord 2021-08-17 Answered
The value of investment after 5 years.
Given information:
Amount invested: $40,000
Rate of interest: \(\displaystyle{2}\%\) Per annum
Time: 5 years.

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Expert Answer

l1koV
Answered 2021-08-18 Author has 3204 answers
Calculation:
\(\displaystyle{F}{V}={A}{m}{o}{u}{n}{t}{\left({1}+{R}\%\right)}^{{{n}}}\)
\(\displaystyle{F}{V}=\${40},{{000}_{{+}}^{{{1}}}}\)
\(\displaystyle={40},{000}^{{{\frac{{{102}}}{{{100}}}}}}\)
\(\displaystyle={40},{000}\times{1.104}\)
\(\displaystyle=\${44164}\)
So, the value of investment after 5 years is $44164.
Conclusion:
So, the value of investment after 5 years is $44164.
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