If $P is invested for n years at rate I (as a decimal), compounded annually, the future

Question:

If $P is invested for n years at rate I (as a decimal), compounded annually, the future value that accrues is given by S = P(1 + i)n, and the interest earned is I = S - P. Find S and I for the given P, n, and i.

1. $1200 for 5 years at 12%

2. $1800 for 7 years at 10%

3. $5000 for 6 years at 11.5%

4. $800 for 20 years at 10.5%

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...