What Is the Future Value (FV) of $60,000 in Five

question 18

Multiple Choice

What is the future value (FV) of $60,000 in five years, assuming the interest rate is 5% per year?

• A) $76,576.89
• B) $72,674.86
• C) $75,000.00
• D) $62,500.00

---

Definitions:

Total Quality Management

A management framework that focuses on continuous improvement in all aspects of an organization's operations, emphasizing customer satisfaction.

Continuous Improvement

An ongoing effort to enhance products, services, or processes for increased quality and efficiency.

Customer Needs

The requirements and desires of consumers that a product or service should fulfill.

W. Edwards Deming

A prominent figure in the field of quality management, known for his work in improving production efficiency and implementing quality control processes.