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Compute the 10-year future value of a $14,120 loan if the annual interest rate is 3.4%...

Compute the 10-year future value of a $14,120 loan if the annual interest rate is 3.4% with weekly compounding.

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Answer #1

Ans $ 19835.66

FV = Future Value
PV = Present Value
r = rate of interest
n= no of period
FV = PV (1 + r )n
FV = 14120*(1+3.4%/52)^520
FV = 19835.66
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