If the current rate of interest is 7%, then the future value (FV) of an investment that pays $1200 per year and lasts 18 years is closest to ________.
A) $24,479
B) $40,799
C) $48,959
D) $57,119

Name: If the current rate of interest is 7%, then the future value (FV) of an investment that pays $1200 per year and lasts 18 years is closest to ________. A) $24,479 B) $40,799 C) $48,959 D) $57,119
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Question

Quizplus · Accepted Answer

B) N = 18
I = 7
PMT = $1200
PV = 0
Compute FV = $40,799

If the Current Rate of Interest Is 7%, Then the Future