What is the future value of $750 one year from today if the interest rate is 3 percent?
A)772.73
B)772.50
C)773.33
D)None of the above are correct to the nearest penny.

Question

Quizplus · Accepted Answer

Using the formula for future value:
FV = PV * (1 + r)
FV = 750 * (1 + 0.03)
FV = 750 * 1.03
FV = 772.50

Therefore, the future value of $750 one year from today, with an interest rate of 3%, is $772.50. The closest answer choice is B.

What Is the Future Value of $750 One Year from Today