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# \$1.00If you look at the formula to calculate

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If you look at the formula to calculate the dollar amount of \$1 you put into savings today, you see that it is fv = pv*((1+i)^n). The variables are fv = future value, pv = present value, i = interest rate per period, and n = the number of periods. In the formula, n is an exponent. What does the exponent in this case state that you need to do mathematically to the (1 + i) segment of the formula? Select a different interest rate than your classmates who have already answered this question, as well as a different number of periods. How much money would you have at the end if you invested \$1 today (pv)?

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\$1.00
FV and PV interest formula explained
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