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

question 24

Short Answer

Calculate, to the nearest cent, the future value of an investment of $12,000 at 0.4% per month, compounded monthly, after 8 years.
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​FV​ = $ __________

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Definitions:

Tails

The term used to refer to the rear or back end of an animal's body, or in coin flipping, the side of the coin not displaying the head.

Raffle

A means of raising money by selling numbered tickets, one or more of which are subsequently drawn at random, the holder or holders of such tickets winning a prize.

Probability

A value ranging from 0 to 1 that denotes the probability of an event's occurrence.

Winning

Achieving victory or success in a contest, conflict, or endeavor.