What is the future value of $375 at an interest rate of 3 percent one year from today?
A)$371.75
B)$386.25
C)$393.33
D)None of the above are correct to the nearest cent.

Name: What is the future value of $375 at an interest rate of 3 percent one year from today? A)$371.75 B)$386.25 C)$393.33 D)None of the above are correct to the nearest cent.
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Question

Quizplus · Accepted Answer

Future Value = (Present Value) x (1 + interest rate)
Future Value = $375 x (1 + 0.03)
Future Value = $386.25

What Is the Future Value of $375 at an Interest