Compute the Future Value of 100 USD (U.S. Dollars) 250 years from today, if the interest rate is 6.25%, assuming: (a) simple interest. Show step by step on Excel.
Added by Ricky S.
Step 1
Step 1: The formula for calculating the future value of an investment using simple interest is: FV = P(1 + rt) Where: FV = Future Value P = Principal amount (initial investment) r = Interest rate t = Time in years Show more…
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