What Is the Future Value of £1,000 a Year for fiVe

question 73

Multiple Choice

What is the future value of £1,000 a year for five years at a 6% rate of interest?

• A)£4,212.36
• B)£5,075.69
• C)£5,637.09
• D)£6,001.38
• E)£6,801.91

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Definitions:

Government Actions

Measures, policies, or interventions put in place by government entities to influence economic activity, societal welfare, or achieve specific policy objectives.

Economic Activity

Actions that involve the production, distribution, and consumption of goods and services in an economy.

Communism

Communism is a socio-economic system characterized by the absence of private property and the communal ownership of all resources and means of production, aiming for a classless society.

Economic Well-being

A measure of the financial health and quality of life of individuals or populations, often assessed by factors like income, employment, and access to goods and services.