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Select the correct answer. future value = P × (1 + i)^t present value = P / (1 + i)^t You want to deposit...
Select the correct answer.
future value = P × (1 + i)^t
present value = P / (1 + i)^t
You want to deposit $12,000 in a bank at an interest rate of 8 percent per year. What is the future value of this money after five years?
○ $15,315.38
○ $17,631.94
○ $16,830.62
future value = P × (1 + i)^t
present value = P / (1 + i)^t
You want to deposit $12,000 in a bank at an interest rate of 8 percent per year. What is the future value of this money after five years?
○ $15,315.38
○ $17,631.94
○ $16,830.62