charlotte_bailey_doctor
Tue Sep 10 2024
|
7 answers
2318
What is the future value of $1000 after 5 years at 8 per year?
Could you please clarify the question for me? Are you asking about the future value of an investment of $1000 that earns an annual interest rate of 8% for 5 years? If so, the future value of the investment can be calculated using the formula for compound interest. Assuming you're making an investment today and reinvesting the interest each year, the future value after 5 years would be approximately $1469.33. This calculation assumes that the interest rate remains constant and that the investment is not subject to any taxes or fees.
