Personal Finance: Time Value of Money
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Solution Summary
The solution explains some questions in time value of money
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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 = ...
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