V=future value 9.85 when:
pv=present value is l
i=interest rate per period or 10%
n=number of periods (n is an exponent) is 24
fv = pv*((1+i)^n)
fv = 1*((1+0.1)^24
fv = 9.85
How much would your dollar be worth if you had taken .33 out of your investment at the end of the 12th year?© BrainMass Inc. brainmass.com June 3, 2020, 11:11 pm ad1c9bdddf
So basically we want to subtract out the FV of the 0.33 that we take out at the end of the 12th year. This amount is:
FV = ...
The solution calculates FV amount of investments.