The future value of $200 received today and deposited at 8 percent for three years is: (Round to the nearest whole dollar)
A) $248
B) $252
C) $158
D) $200
E) $249

Question

Quizplus · Accepted Answer

FV = PV × 11ea7fdb_fc26_6040_a768_9d68408d65b5_TB2902_00 FV = 200 × 11ea7fdb_fc26_6041_a768_8be2b045ab96_TB2902_00 = $251.94
Using a financial calculator:
N = 3, I/Y = 8, PV = -200, PMT = 0, cpt FV = $251.94

The Future Value of $200 Received Today and Deposited at 8