What is the future value of $1000 in 30 years at 6% interest per year?
The future value is $5,743.49.
Check out Investopedia's Future Value Calculator here:
https://www.investopedia.com/calculator/fvcal.aspx
To calculate the future value of $1000 in 30 years at 6% interest per year, you can use the following formula for compound interest:
Future Value = Present Value x (1 + Interest Rate)^Number of Periods
In this case:
Present Value = $1000
Interest Rate = 6% per year (or 0.06)
Number of Periods = 30 years
Plugging in these values into the formula, you get:
Future Value = $1000 x (1 + 0.06)^30
Calculating this expression, you get:
Future Value = $1000 x (1.06)^30 = $1000 x 5.74349
Therefore, the future value of $1000 in 30 years at 6% interest per year is approximately $5,743.49.
You can verify this result using online financial calculators such as Investopedia's Future Value Calculator (link provided above).