If the Interest Rate Is 11 Percent, What Is the Future

question 285

Multiple Choice

If the interest rate is 11 percent, what is the future value of $6,000 three years from now?

• A)$8,206
• B)$7,980
• C)$7,500
• D)$8,460

---

Definitions:

Analytical Comparison

The process of examining and evaluating similarities and differences between entities or datasets using analytical methods.

Familywise Error

Familywise error rate is the probability of making one or more false discoveries, or type I errors, when performing multiple hypotheses tests.

Type I Error

The incorrect rejection of a true null hypothesis, also known as a false positive.

Probability

A measure of the likelihood of a specific event occurring, expressed as a number between 0 and 1.