What is the future value of a deposit of £200 in an account paying interest at 5 per cent over a four year period?
A) £240.00
B) £220.00
C) £234.10
D) £243.10

Question

Quizplus · Accepted Answer

The future value can be calculated using the formula: FV = PV x (1 + r)^n, where PV is the present value, r is the interest rate and n is the number of periods. Plugging in the given values, we get FV = £200 x (1 + 0.05)^4 = £243.10. Therefore, option D is the correct answer.

What Is the Future Value of a Deposit of £200