If a person spends $10 a week on coffee (assume $500 a year), what would be the future value of that amount over 5 years if the funds were deposited in an account earning 5 percent? Use Exhibit 1-B. (Round your FV factor to 3 decimal places and final answer to the nearest dollar amount.) Future value $ Explanation: $500 × 5.526 = $2,763 (Exhibit 1-B)

If a person spends $10 a week on coffee (assume $500 a year), what would be the future value of that amount over 5 years if the funds were deposited in an account earning 5 percent? Use Exhibit 1-B. (Round your FV factor to 3 decimal places and final answer to the nearest dollar amount.)

  

Future value

$

 

Explanation:

$500 × 5.526 = $2,763 (Exhibit 1-B)