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f a person spends $20 a week on coffee (assume $1000 a year), what would the...

f a person spends $20 a week on coffee (assume $1000 a year), what would the future value of that amount over 10 years if the funds were deposited in an account earning 3 percent?

Future value:

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Answer #1

Ans $ 1343.92

FV = Future Value
PV = Present Value
r = rate of interest
n= no of period
FV = PV (1 + r )n
FV = 1000*(1+3%)^10
FV = 1343.92
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