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Future Value of a Single Payment

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If you deposit $10,000 in a bank account that pays 10% interest annually, how much will be in your account after 5 years?

Explain how to apply discounted cash flow techniques to determine the value of money.

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Solution Summary

This solution explains and calculates how to determine the future value of a single payment, as well as how to determine the value of money by applying discounted cash flow techniques.