Can someone explain how I can solve this in a easy way? 16.) What are the future value and the interest earned if $3200 is invested for 5 years at 8% compounded quarterly? (Round your answers to the nearest cent.) What are the future value and the interest earned if $3200 is invested for 5 years at 8% compounded quarterly? (Round your answers to the nearest cent.)future value2$interest earned2$

Future Value is the compounded interest on the present value of an asset. The worth of a current…

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What are the future value and the interest earned

Financial Accounting Intro Concepts Meth/Uses

14th Edition

ISBN:9781285595047

Author:Weil

Publisher:Weil

ChapterA: Appendix - Time Value Of Cash Flows: Compound Interest Concepts And Applications

Section: Chapter Questions

Problem 18E

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Can someone explain how I can solve this in a easy way?

16.) What are the future value and the interest earned if $3200 is invested for 5 years at 8% compounded quarterly? (Round your answers to the nearest cent.)

What are the future value and the interest earned if $3200 is invested for 5 years at 8% compounded quarterly? (Round your answers to the nearest cent.)
future value
2$
interest earned
2$

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