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Homework answers / question archive / What is the future value of $900 deposited for one year earning an 8 percent interest rate annually?

What is the future value of $900 deposited for one year earning an 8 percent interest rate annually?

Accounting

What is the future value of $900 deposited for one year earning an 8 percent interest rate annually?

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Computation of the future value:-

FV = PV*(1+rate)^n

= $900*(1+8%)^1

= $900*1.08

= $972

 

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