What is the future value of $200 received today and deposited at eight percent compounded annually for three years ?
A)$252
B)$250
C)$248
D)$249

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.

What Is the Future Value of $200 Received Today and Deposited