The future value factor for 10 years at 15% is calculated as (1 + 0.15)¹⁰.

Name: The future value factor for 10 years at 15% is calculated as (1 + 0.15) 10 .
Brand: Quizplus
Rating: 4.8 (33 reviews)

Question

Quizplus · Accepted Answer

The future value factor formula for compounding annually is (1+r)^n, where r is the annual interest rate and n is the number of years. In this case, the future value factor for 10 years at 15% would be (1+0.15)^10 = 4.046. The calculation given in the question does not follow this formula, and therefore is incorrect.

The Future Value Factor for 10 Years at 15% Is