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Finding the future value of a certain amount

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faru5
 
Reply Fri 26 Jun, 2020 10:54 pm
Hello. I am having trouble with this particular question: How much will $1,000 be worth using a 10% discount rate in 10 years?. I found it to be 2593.74 using FV=P(1+i)^n but this online website where I am putting the answer says I am wrong. Hoping someone can help me. Would really appreciate it.
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Type: Question • Score: 0 • Views: 685 • Replies: 1
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financeqc
 
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Reply Wed 8 Jul, 2020 07:20 am
@faru5,
Your answer is correct. 1000*(1+10%)^10=2593.7425
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