Answer:
$60,030.54
Explanation:
In this question, we use the FV formula that is presented in the spreadsheet.
The NPER shows the time period.
Given that,
Present value = $0
PMT = Monthly payments = $5,000
NPER = 10
Rate of interest = 4%
The formula is presented below:
= -FV(Rate;NPER;PMT;PV;type)
So, after solving this, the future value is $60,030.54
