Question: Use the future value formula or a FV table for each of the specified scenarios. A. Calculate the future value (FV 1 ) of $30,000

Use the future value formula or a FV table for each of the specified scenarios. A. Calculate the future value (FV 1 ) of $30,000 deposited in an account today and left there for one year. Assume that the account pays 5 percent simple interest annually. B. Calculate the future value (FV 2 ) of $30,000 deposited in an account today and left there for four years. Assume that the account pays 5 percent compound interest annually.

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