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Solving for the Future Value (FV)

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In this video you’ll learn how to determine the future value of an investment. We’ll be solving the problem below so feel free to follow along. “Betty and Austin just won $10,000 in the Pennsylvania state lottery. They decide to spend $3,000 now and put the remaining $7,000 in an investment earning 8 percent compounded annually. If they use the money in that investment for a vacation in five years, approximately how much will they have available to spend on that vacation?”
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