Find the Future Value of $16,000 Invested for 15 Years

question 90

Multiple Choice

Find the future value of $16,000 invested for 15 years at 9%, compounded daily. Round your answer to the nearest cent.

• A) $58,279.72
• B) $56,397.98
• C) $61,408.69
• D) $61,708.54

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Definitions:

Time Series

A sequence of data points, typically consisting of successive measurements made over a time interval.

Trend

A general direction in which something is developing or changing over time.

Moving Average

A statistical measure to smooth out short-term fluctuations and highlight longer-term trends or cycles in data.

Exponential Smoothing

A technique used in time series forecasting that applies decreasing weights to past data, giving more importance to more recent observations.