Future value calculates what an investment will be worth after earning compound interest. PV is the present value, r is the annual rate, n is the number of compounding periods per year, and t is the time in years.
What will $5,000 grow to in 5 years at 8% compounded quarterly?
FV = 5000 × (1 + 0.08/4)^(4×5) = 5000 × (1.02)²⁰ ≈ 5000 × 1.486 ≈ $7,429.74
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