If You Put $500 in a Savings Account and Make

question 61

Multiple Choice

If you put $500 in a savings account and make no further deposits,what type of calculation would provide you with the value of the account in 10 years?

• A)Future value of a single amount
• B)Simple interest
• C)Present value of a single amount
• D)Present value of a series of deposits
• E)Future value of a series of deposits

---

Definitions:

Statement Of Comprehensive Income

A financial statement that presents a company's total income, including items that are not included in the net income.

Net Income

The total profit of a company after all expenses and taxes have been deducted from revenues, a key indicator of a company's profitability.

Interest Expense

The financial cost experienced by an entity over a duration for utilizing borrowed money.

Sources And Uses Of Cash

A financial statement that summarizes where a business obtained its money (sources) and how it spent it (uses).