Solve the problem.The future value of an investment is given by  where M = maturity value, P = amount initially invested, i = interest rate written as a decimal, and t = number of time periods. Find the future value of a $2400 investment expected to earn 6% per year for 5 years. Round to the nearest cent.

A. $3237.24
B. $3225.40
C. $3232.45
D. $3211.74


Answer: D

Mathematics

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