If you start with $2,000 today, approximately how much will you have in 2 years if you can earn 6% each year?

Question

Quizplus · Accepted Answer

To calculate the future value of an investment, you can use the formula FV = PV(1 + r)^n, where FV is the future value, PV is the present value, r is the annual interest rate, and n is the number of years. Plugging in the given values: FV = $2,000(1 + 0.06)^2 = $2,000(1.06)^2 = $2,000 * 1.1236 = $2,247.

If You Start with $2,000 Today, Approximately How Much Will