What’s the future value of $2,000 after 3 years if the appropriate interest rate is 8%, compounded monthly?

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2006-09-19 08:34:48 · 4 answers · asked by mssilkee 1 in Business & Finance ➔ Investing

assuming 8% annual interest doesn't matter that it is compounded montly. 2000 * 1.08 * 1.08 * 1.08 = $2,519,42

2006-09-19 08:44:58 · answer #1 · answered by johnhbhb 1 · 0⤊ 0⤋

Assuming 8% is a per annum interest rate,
FV = $2,540.47

2006-09-19 08:50:52 · answer #2 · answered by Tom-SJ 6 · 0⤊ 0⤋

Learn to use Excel...and do your own homework.

2006-09-19 08:41:59 · answer #3 · answered by Sordenhiemer 7 · 0⤊ 0⤋

Is it taxable and at what rate.......................

2006-09-19 08:46:29 · answer #4 · answered by thomasrobinsonantonio 7 · 0⤊ 0⤋