Suppose you invest $2500 each year in a savings account that earns 12% per year. How much will be in the account in 10 years?

Final Value= $43,871.84

Explanation:

Giving the following information:

Suppose you invest $2500 each year in a savings account that earns 12% per year.

Number of years= 10

To calculate the final value we need to use the following formula:

FV= {A*[(1+i)^n-1]}/i

A= annual deposit= 2,500

i= 0.12

n=10

FV= {2,500*[(1.12^10)-1]}/0.12= $43,871.84

answer; the above statement is (true);

hi,

henry is an economist and wants to understand the relationship between inflation and consumer spending habits. for his research, he needs the consumer price index for 2014 and the inflation rate. based on the prices of goods given, what will he find to be the cpi and inflation rate for 2014? assume that a consumer’s basket for three consecutive years consists of the following:

you dont privide answer choices.

answer - 15% of a inflatation rate is 15% less in cpi