Finite Math Examples

$p = 1000$ , $r = 8 %$ , $t = 10$

Step 1

The future value of an investment can be calculated using the current value, a rate of interest, and the length of time of the investment.

$F V = p {(1 + r)}^{t}$

Step 2

Simplify the result.

$F = 2158.92499\overline{72}$