Question

if $65000 is recieved today and invested at 5.5% compounded annually for 15 years what is the future value.

Answer 1

Future Value is $ 145,110.97

Future Value		=FV(rate,nper,pmt,pv)
		= $1,45,110.97
Where,
rate	=	Rate of interest	=	5.50%
nper	=	Number of period	=	15
pmt	=	Annual year end investment for 15 years	=	$0
pv	=	Initial one time investment for 15 years	=	-$65,000
Alternatively,
Future Value	=	Present Value *(1+i)^n
	=	65000*(1+0.055)^15
	=	$1,45,110.97
Where,
i	=	5.50%
n	=	15