Answer:
$883,74
Explanation:
The amount that would result after 4 years is called the Future Value (FV). this is calculated using Time Value of Money Techniques.
Using a Financial Calculator, this will be calculated as follows :
PV = $700
N = 4
I = 6%
PMT = 0
P/YR = 1
FV = ?
Entering the values as shown gives a Future Value (FV) of $883,74.
