Which of the following is the correct way to compute the future value of $1 put into an account that earns 5 percent interest for 16 years? A)$1(1 + .05)¹⁶ B)$1(1 + .05 16) 16 C)$1(1 + .05 16) D)$1(1 + 16/.05)¹⁶

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The Answer of Which of the following is the correct way to compute the future value of $1 put into an account that earns 5 percent interest for 16 years? A)$1(1 + .05)¹⁶ B)$1(1 + .05 16) 16 C)$1(1 + .05 16) D)$1(1 + 16/.05)¹⁶

Which of the Following Is the Correct Way to Compute