Find the Present Value of the Future Value

question 15

Multiple Choice

Find the present value of the future value.
-Find the required annual interest rate, to the nearest tenth of a percent, for $5200 to grow to $6500 if interest is compounded quarterly for 7 years.

• A) 1.6%
• B) 0.8%
• C) 4.0%
• D) 3.2%

---

Definitions:

Circle Invalid

A function in data validation that visually identifies data that does not comply with certain predefined criteria.

Error Check

The process or mechanism within a system or software that identifies, reports, and sometimes corrects errors to ensure data integrity and operational stability.

Sequential Series

A set of elements or events arranged in a specific order where each is followed by the one succeeding it, reflecting a particular sequence.

Mortgage

A loan granted by a bank or financial institution, secured by the borrower's property, used to purchase real estate.