What is the future value in five years

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Reference no: EM131830397

1. What is the future value in five years of $1,600 invested in an account with an annual percentage rate of 10 percent, compounded monthly? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

Future value $

2. What is the future value in five years of $1,600 invested in an account with an annual percentage rate of 10 percent, compounded continuously? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

Future value $

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Reference no: EM131830397

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