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Question

Compute the future value of $100 at an 8 percent interest rate 5, 10, and 15 years into the future. What would the future value be over these time horizons if the interest rate were 5 percent?

Solution

VerifiedAnswered 1 year ago

Answered 1 year ago

Step 1

1 of 8In this problem, we need to compute for the following:

- Future value of $100 with an interest rate of 8% for 5, 10, and 15 years.
- Future value of $100 with an interest rate of 5% for 5, 10, and 15 years.

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