Which expression is used to calculate the future value of an amount of money? A)Present Value × (1 + interest rate)^time B)Present Value / (1 + interest rate)^time C)Present Value × (1 + time)^{interest rate} D)(1 + interest rate)^time/ Present Value

Question

Quizplus · Accepted Answer

The correct expression for calculating the future value of an amount of money is the present value multiplied by (1 + interest rate) raised to the power of time. This formula accounts for compound interest over time.

Which Expression Is Used to Calculate the Future Value of an Amount