The future value of $100 received today and deposited at 6 percent for four years is: (Round to the nearest whole dollar)
A) $126
B) $79
C) $124
D) $116
E) $106

Question

Quizplus · Accepted Answer

FV = PV × 11ea7fdb_fc26_8652_a768_13644cc25e39_TB2902_00 FV = 100 × 11ea7fdb_fc26_8653_a768_3559817bcd71_TB2902_00 = $126.25
Using a financial calculator:
N = 4, I/Y = 6, PV = -100, PMT = 0, cpt FV = $126.25

The Future Value of $100 Received Today and Deposited at 6