Calculate future value, Finance Basics

Your grandparents put $1,000 into a saving account for you when you were born 30 years ago. This account has been earning interest at a compound rate of 7%. What is its value today?  

a

Amount Deposited every year

 

 mce_markernbsp;                        1,000.00

 
 

by grandparents

       

b

Period (Years)

   

30

 

c

Interest rate(Compounded annually)

7%

 

d

Value after 30 years

   

$94,460.79

 
 

Future value of $1000 stream of payment for 30  years earned at 7%

 

Posted Date: 7/23/2012 2:07:10 AM | Location : United States







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