Answer to Question #89098 in Financial Math for Nic
Answer the following questions. If necessary, refer to the list of financial formulas.
If Keiko decides to save for 4 years, and opens a savings account with $200 which pays simple interest at an annual rate of 2%, then the future value after 4 years is:
FV = 200×(1 + 0.02×4) = $216.