What Is the Future Value of $1,000 Deposited for One

question 102

Multiple Choice

What is the future value of $1,000 deposited for one year earning 5 percent interest rate annually?

• A) $1,000
• B) $1,005
• C) $1,050
• D) $2,050

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Definitions:

Nonfinancial Information

Data related to a company’s operations that is not expressed in monetary terms.

Internal Decision Makers

Entities or individuals within an organization responsible for making choices that affect the company's operations and strategy.

Managerial Accounting

The method of pinpointing, quantifying, examining, elucidating, and relaying financial data to managers to help achieve the objectives of an organization.

External Auditors

Independent experts who review the financial statements of a company to ensure accuracy and compliance with accounting standards.