What is future value?

What is future value?
Lachlan May-04-2023 10:30:41
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Future value, or FV, refers to the current value of a future sum of money, based on a given rate of return. It is used to measure the potential returns from an investment or savings account at a given point in time. The formula for future value is as follows: FV = present value x (1 + rate of return)^time period.
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answered 22 Aug 2023

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