Use the future value interest factors in each of the cases shown in the following table to

Question:

Use the interest factors in each of the cases shown in the following table to estimate, to the nearest year, how long it would take an initial deposit, assuming no withdrawals,
a. To double.
b. To quadruple.
Case Interest rate
A......... 7%
B......... 40
C......... 20
D......... 10

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...