I am lost on the formulas for this question. I do not understand with the ^n stands for in the formula.
What is the future value of $15,000 if it is invested at 7.5% for a period of 13 years annually?
What is the future value of $20,000 if it is invested at 6.5% for a period of 9 years quarterly?
What is the present value of $100,000 received in 15 years if the current opportunity rate of return is 9% annually?
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