What Is the Future Value of $375 at an Interest

question 91

Multiple Choice

What is the future value of $375 at an interest rate of 3 percent one year from today?

• A)$371.75
• B)$386.25
• C)$393.33
• D)None of the above are correct to the nearest cent.

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Definitions:

Direct Materials

Raw materials and components that are directly used in the manufacturing of a product.

Inventory

Goods and materials held by a business for the purpose of resale or production.

Production Budget

A production budget is a financial plan that estimates the number of units to be produced to meet anticipated sales.

Units

A measure of quantity, such as products produced or services rendered, used in various business contexts.