Calculate, to the Nearest Cent, the Future Value of an Investment

question 85

Short Answer

Calculate, to the nearest cent, the future value of an investment of $22,000 at 6% per year, compounded monthly, after 12 years.
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​FV​ = $__________

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Definitions:

Break-Even Point

The Break-Even Point is the level of production or sales at which total revenues equal total costs, resulting in no profit or loss for the business.

Sales Dollars

Sales dollars refer to the total revenue generated from goods or services sold by a company, expressed in monetary terms.

Pretax Income

The income of a company before tax is deducted.

Contribution Margin Ratio

A financial metric that measures how a product's selling price covers variable costs, expressed as a percentage of sales revenue.