The future value of $100 received today and deposited at 6 percent for four years is ________
A) $ 79
B) $124
C) $116
D) $126

Question

Quizplus · Accepted Answer

The future value can be calculated using the formula: FV = PV x (1 + r)^n, where PV is the present value, r is the interest rate per period, and n is the number of periods.

Substituting the given values, we get: 
FV = 100 x (1 + 0.06)^4 
FV = $126.24

Therefore, the best choice is D, with a future value of $126.24.

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