The Future Value of $100 at a 5% Per Year

question 29

Multiple Choice

The future value of $100 at a 5% per year interest rate at the end of one year is:

• A) $95.00
• B) $105.00
• C) $97.50
• D) 107.50

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Definitions:

Russian Incursions

Unauthorized military actions or invasions by Russia into the territory of another country or state.

Converting Indians

Historical efforts, primarily by European settlers and missionaries, to assimilate indigenous peoples of the Americas into European cultural and religious practices.

Circulating Libraries

Libraries that lend books and other media for a fee, a precursor to the modern public library system, popular in the 18th and 19th centuries.

Taxpayer-funded Schools

Educational institutions primarily funded through taxes collected by the government, offering free or subsidized education to students.