Question

Ustrating the fine basic

1. Future Value or Present Value of a Single Sum
Compute the future value of $2,250 at a 17 percent annual rate for
30 years.

Answer 1

Answer:$249895.46

Explanation:

Well, if 2250 dollars increase by 17% every year for 30 years, then it will be 2250*(1.17)^30

which would be $249895.46

so if you could increase money by 17% every year, 2250 dollars now will be worth a lot in 30 years!