The future value of $200 received today and deposited at 8 percent compounded semi-annually for three years is:
A) $380
B) $158
C) $253
D) $252
E) $248

Question

Quizplus · Accepted Answer

FV = PV × 11ea7fdb_fc23_2bb1_a768_69e9a645aed7_TB2902_00 FV = 200 × (1.04 11ea7fdb_fc23_52c2_a768_99e06f48e539_TB2902_00 = $253
Using a financial calculator:
N = 6, I/Y = 4, PV = -200, PMT = 0, cpt FV = $253

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