The future value of $200 received today and deposited at 8 percent for three years is ________
A) $158
B) $200
C) $248
D) $252

Name: The future value of $200 received today and deposited at 8 percent for three years is ________ A) $158 B) $200 C) $248 D) $252
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Question

Quizplus · Accepted Answer

The future value is calculated using the formula FV = PV * (1 + r)^n, where PV is the present value ($200), r is the interest rate (0.08), and n is the number of years (3). FV = 200 * (1 + 0.08)^3 = 200 * 1.259712 = $251.94, which rounds to $252.

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