If you put $1,000 in a savings account and make no further deposits,what type of calculation would provide you with the value of the account in 20 years?
A)Future value of a single amount
B)Simple interest
C)Present value of a single amount
D)Present value of a series of deposits
E)Future value of a series of deposits

Question

Quizplus · Accepted Answer

The calculation that would provide you with the value of the account in 20 years is the future value of a single amount. This calculation takes into account the initial investment and any interest earned over the 20-year period.

If You Put $1,000 in a Savings Account and Make