The FV of a single amount
The process of investing money as well as reinvesting the interest thereon is called compounding. The future value or compounded value of an investment after n years, when interest rate is r percent, is given by:
FV = PV (1 + r) n
Where, FV = Future value
PV = Present value (given)
r = % Rate of interest, and
n = Time gap after which FV of to be ascertained
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