What is the future value of $450 at an interest rate of 15 percent two years from today?
A) $525.87
B) $566.00
C) $585.00
D) $595.13

Question

Quizplus · Accepted Answer

Using the formula for future value of a single sum:
FV = PV x (1 + r)^n
where FV = future value
PV = present value
r = interest rate
n = number of years

Plugging in the given values:
FV = $450 x (1 + 0.15)^2
FV = $595.13

Therefore, the correct answer is D.

What Is the Future Value of $450 at an Interest