Angela puts $1,000 in a savings account that pays 3 percent per year. What is the future
Question:
Angela puts $1,000 in a savings account that pays 3 percent per year. What is the future value of her money one year from now?
a. $970.
b. $1,000.
c. $1,003.
d. $1,030.
Future ValueFuture value (FV) is the value of a current asset at a future date based on an assumed rate of growth. The future value (FV) is important to investors and financial planners as they use it to estimate how much an investment made today will be worth...
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Answer d 1030 The future value one year from now of the 1000 that Angela invests today at 3 percent ...View the full answer
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ISBN: 978-1259450242
20th edition
Authors: Campbell R. McConnell, Stanley L. Brue, Sean Masaki Flynn
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