Please do your own work, don't copy from the internet Q2) 2, You invest $3,000 for three years at 12 percent. a. What is the value of your investment after one year? Multiply $3,000 × 1.12.b. What is the value of your investment after two years? Multiply your answer to part a by 1.12.c. What is the value of your investment after three years? Multiply your answer to part b by 1.12. This gives your final answer.Combine these three steps by using the formula to find the future value of $3,000 in 3 years at 12 percent interest.

Future value. It can be obtained using the below formula: “” is the present value…

Answered: Q2) 2, You invest $3,000 for three…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Please do your own work, don't copy from the internet

Q2)

2, You invest $3,000 for three years at 12 percent.

a. What is the value of your investment after one year? Multiply $3,000 × 1.12.
b. What is the value of your investment after two years? Multiply your answer to part a by 1.12.
c. What is the value of your investment after three years? Multiply your answer to part b by 1.12. This gives your final answer.
Combine these three steps by using the formula to find the future value of $3,000 in 3 years at 12 percent interest.

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