Question: Calculate the future worth (future value) given a dollar amount, interest rate, compounding frequency and time in years. Deposit Amount: 1000 Interest rate: 0.055 Number

Calculate the future worth (future value) given a dollar amount, interest rate, compounding frequency and time in years.

Deposit Amount: 1000 Interest rate: 0.055 Number of compounding Periods: (i.e., semi-annually = 2, quarterly = 4): 4 Time in Years: 5

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