Making an investment (FV Function): lump sum deposit
Your cousin Jane is surprised to see that you have an investment plan while you are still in Business school. She already started to work two years ago and she usually spends all her money without saving. She plans to have a vacation this summer, thus has managed to save $2,000. But due to the current virus situation, she decides not to go anywhere, and put the money in a certified saving account (a fixed two-year plan). Jane asks you to do the calculation for her. The annual interest/return rate for her saving is 2.75%.
Use the FV function to calculate the future value of the investment (how much money that she will have at the end of two years). Get Finance homework help today