Future value of a single amount:

Question 1

1. Future value of a single amount

Answer 1

The amount at future time that is equivalent to the present amount.

FV=PV*(1+IR)^n

Question 2

2. Present value of single account:

Answer 2

The amount at a present time that is equivalent to a payment or an investment at a future time

PV=FV*(1+i)^(-n)