At an annual interest rate of 8% compounded annually,$5,300 will accumulate to a total of $7,210.65 in 5 years.(PV of $1,FV of $1,PVA of $1,and FVA of $1) (Use appropriate factor(s)from the tables provided.) \bold{ ext{(Use appropriate factor(s)from the tables provided.)}} (Use appropriate factor(s)from the tables provided.)

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At an annual interest rate of 8% compounded annually,$5,300 will accumulate to a total of $7,210.65 in 5 years.(PV of $1,FV of $1,PVA of $1,and FVA of $1)  (Use appropriate factor(s)from the tables provided.) \bold{	ext{(Use appropriate factor(s)from the tables provided.)}} (Use appropriate factor(s)from the tables provided.)

Jalaysia Scott · Accepted Answer

Final Answer : False, Explanation :   To calculate the future value of $5,300 at an 8% annual interest rate compounded annually for 5 years, you use the formula   F V = P V × ( 1 + r ) n FV = PV 	imes (1 + r)^n F V = P V × ( 1 + r ) n  , where   P V PV P V   is the present value,   r r r   is the annual interest rate, and   n n n   is the number of years. Using the given values,   F V = 5300 × ( 1 + 0.08 ) 5 FV = 5300 	imes (1 + 0.08)^5 F V = 5300 × ( 1 + 0.08 ) 5  , which does not equal $7,210.65.

At an annual interest rate of 8% compounded annually,$5,300 will accumulate to a total of $7,210.65 in 5 years.(PV of $1,FV of $1,PVA of $1,and FVA of $1) $provided.)\bold{\text{(Use appropriate factor(s)from the tables provided.)}}$

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