What is the future value of $11. 600 invested for 17 years at 7.25 percent compounded annually?

18) What is the future value of $11,600 invested for 17 years at 7.25 percent compounded annually? 8) A) $27,890.87 B)S32,483.60 みc)$41.009.1 rD) $38,991.07 E) 538,125.20

Answer

Future value =Present value [1+i]^n             = 11600[1+.0725]^17            = 11600 * [1.0725]^17            = 11600 * 3.2866550            = 38125.20 =

correct option is “E” – 38125.20

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