See the attached file.© BrainMass Inc. brainmass.com July 17, 2018, 12:19 am ad1c9bdddf
1. We have to calculate the future value. The amount invested is $2,000. The time period is 35 years and the rate is 6%. Using the FV formula
FV = PV (1+rate)^n, the amount at the end of 35 years would be
FV = 2,000 X (1+6%)^35 = ...
The solution explains some questions in time value of money