Question

Use the future value formula to find the indicated value. n=27​; i=0.02​; PMT=$65​; FV=? FV=$(round to the nearest cent)

Answer 1

Future value formula:
F=A((1+i)^n-1)/i
=65(1.02^27-1)/.02
=2297.38
=2297.38 (nearest cent)