What is the future value of $400 deposited for one year earning an interest rate of 9 percent per year?
Answer to relevant QuestionsHow much would be in your savings account in 11 years after depositing $150 today if the bank pays 8 percent per year?What is the present value of a $200 payment in one year when the discount rate is 7 percent?What would be more valuable, receiving $500 today or receiving $625 in three years if interest rates are 7 percent? Why?How many years (and months) will it take $2 million to grow to $5 million with an annual interest rate of 7 percent? Ten years ago, Hailey invested $3,000 and locked in an 8 percent annual interest rate for 30 years (end 20 years from now). Aidan can make a 20-year investment today and lock in a 10 percent interest rate. How much money ...
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