Answer to Question #58408 in MatLAB | Mathematica | MathCAD | Maple for Faisal Alqahtani

Question

Find the future value (FV) of a bank account starting with $500 and with compounding interest rate of 3% per year, using the formula:

Answer 1

In[1]:= startingValue= Quantity[500, "USDollars"];
interestRate= .3;
numberOfYears = 5;
In[4]:= futureValue[s_, i_, n_] := s+n*i*s;
In[5]:= futureValue[startingValue, interestRate, 1]
Out[5]= $650.
In[6]:= futureValue[startingValue, interestRate, 5]
Out[6]= $1250.