Future Value:$4,144.68
Principal:$2,800.00
Interest:$1,344.68
Three components are required to calculate future values with compound interest: the present value or principal amount, an interest rate, and the number of investment periods. The formula takes your current investment amount and adds it to the interest that will eventually compound. The following is the formula:
FV = PV(1+i)n
Future Value (FV)
Present Value Equals PV
Number of compounding periods is indicated by the decimal form of the period interest rate, i.
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