Answer
The future value is $14,367.
Work Step by Step
Compute the future value using a principal amount of 8000, earning 5% per year compounded for 12 years.
$FV=8000\times(1+0.05)^{12}=14,367$
Accounting: Tools for Business Decision Making, 5th Edition
by Kimmel, Paul D.; Weygandt, Jerry J.; Kieso, Donald E.
Published by
Wiley
ISBN 10:
1118128168
ISBN 13:
978-1-11812-816-9
Appendix D - Time Value of Money - Brief Exercises - Page D-18: BED-7
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