What is the future value of $500 in two years if the interest rate is 4%? How

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What is the future value of $500 in two years if the interest rate is 4%? How would you explain this to someone who has no training in economics?

Future Value
Future value (FV) is the value of a current asset at a future date based on an assumed rate of growth. The future value (FV) is important to investors and financial planners as they use it to estimate how much an investment made today will be worth...
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