What Would the Future Value of $125 Be After 8

question 46

Multiple Choice

What would the future value of $125 be after 8 years at 8.5% compound interest?

• A)$205.83
• B)$216.67
• C)$228.07
• D)$240.08

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Definitions:

Rent Expense

An expense account that records the cost incurred by a business to utilize property or equipment for operations.

Debit

An accounting entry that increases an asset or expense account, or decreases a liability or equity account, reflected on the left side of an account.

Credit

An accounting entry that either increases a liability or equity account, or decreases an asset or expense account. It is also used to refer to the provision of resources by a credit provider to a borrower.

Expenses

Costs incurred in the process of earning revenues, generally categorized as operating or non-operating.