You Receive $2,000 Today Which You Plan to Save for 15

question 123

Multiple Choice

You receive $2,000 today which you plan to save for 15 years.If the interest rate is 4 percent,what is the future value of this $2,000?

• A)$3,494.40
• B)$3,585.85
• C)$3,601.89
• D)$3,676.14

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Definitions:

New Zealand

An island country in the southwestern Pacific Ocean known for its diverse ecosystems and Maori culture.

England

A country that is part of the United Kingdom, known for its rich history, cultural impact, and contributions to the global political and economic systems.

Minimum Wage Laws

Laws set by legislation that determine the lowest hourly rate that workers can be paid.

Lower Skills

Lower Skills refer to a relatively low level of expertise or competency in performing tasks, usually requiring less education or training.