1. What are the future value and the interest earned if $3200 is invested for 5 years...

Question:

1. What are the and the interest earned if $3200 is invested for 5 years at 8% compounded quarterly?
2. What interest will be earned if $6300 is invested for 3 years at 12% compounded monthly?
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...