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HOW TO REMEMBER FORMULA AND CALCULATOR?
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Find Future Worth of Money Given Present Worth
You borrow $ from a bank for a period of
year at interest rate of % .
How much do you owe
your bank after year? Answer
How much did you pay for the interest? Answer
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Formula Recall
F = P ( 1 + i ) n
Where F = means Future Worth of Money
Where P = means Present worth of borrowed money
Where i = means interest rate
Where n = means number of years money is borrowed