You have $1,500 to invest today. You plan to spend the money in 6 years and...

You have $1,500 to invest today. You plan to spend the money in 6 years and believe you can earn 9% on your investment. What do you expect the value of your investment to be when you want to spend your money?

(Please complete in excel if possible)

Solutions

Expert Solution

PV =1500
Number of Years =6
Rate =9%
FV =PV*(1+r)^n =1500*(1+9%)^6 =2515.65

FV using excel formula =FV(9%,6,0,-1500) =2515.65

jeff jeffy answered 2 years ago

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