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Your great-aunt wants to help with your college graduation party- She has just placed $5,000 dollars in a bank account that will earn an annual rate of return of 6%- If you graduate in four years, how much will be in your party account?

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The time value of money is the widely accepted idea that there is greater benefit to receiving a sum of money now rather than an identical sum later.


Your great-aunt wants to help with your college graduation party- She has just placed $5,000 dollars in a bank account that will earn an annual rate of return of 6%- If you graduate in four years, how much will be in your party account?






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