What is the future value of $500 one year from today if the interest rate is 6 percent?
A)$503
B)$515
C)$530
D)None of the above is correct.

Name: What is the future value of $500 one year from today if the interest rate is 6 percent? A)$503 B)$515 C)$530 D)None of the above is correct.
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Question

Quizplus · Accepted Answer

The future value is calculated using the formula FV = PV * (1 + r), where PV is the present value ($500) and r is the interest rate (0.06). So, FV = $500 * (1 + 0.06) = $530.

What Is the Future Value of $500 One Year from Today