At an Annual Interest Rate of 7%,the Future Value of $5000

question 50

Multiple Choice

At an annual interest rate of 7%,the future value of $5000 in five years is closest to:

• A)$3565.
• B)$6750.
• C)$7015.
• D)$7035.

---

Definitions:

Accounting Period

A span of time during which financial events are recorded and compiled into financial statements.

Variable Costs

Expenditures that fluctuate with the quantity of production or the volume of sales.

Specific Decision

A choice made in a particular situation, often necessitating the consideration of relevant information and specific circumstances.

Prime Cost

The sum of direct materials and direct labor costs associated with the production of goods.