Answer:
FV= $3,352.98
Step-by-step explanation:
Giving the following information:
Initial investment (PV)= $5,400
Number of periods (n)= 5 years
Interest rate (i)= 10%
To calculate the future value (FV), we need to use the following formula:
FV= PV / (1 + i)^n
FV= 5,400 / (1.1^5)
FV= $3,352.98
