What Is the Future Value (FV) of $20,000 in Four

question 43

Multiple Choice

What is the future value (FV) of $20,000 in four years, assuming the interest rate is 12% per year?

• A) $31,470.39
• B) $28,292.66
• C) $17,096.08
• D) $32,020.64

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Definitions:

Pay Plan

A structured payment system that outlines the wages, salaries, bonuses, and other financial compensations employees receive for their work.

Gain-sharing Program

A compensation strategy where employees receive bonuses based on improvements in the company's performance, fostering a sense of ownership and teamwork.

Unionized

The status of employees or a workforce that is represented by a labor union, which negotiates wages, working conditions, and other employment terms on their behalf.

Suggestions Implemented

Refers to the proposals or recommendations that have been put into action or operationalized.