What Is the Future Value of a Three-Year, $3,000 Deposit

question 216

Multiple Choice

What is the future value of a three-year, $3,000 deposit at 6 percent interest, when interest is compounded continuously?

• A)$3,045.00
• B)$3,540.00
• C)$3,573.05
• D)$3,591.65

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Definitions:

Summary Measures

Quantitative data that provide a statistical overview of a set of observations or measurements.

MIN(range)

Refers to the smallest value in a given range of data.

Smallest Value

The minimum value within a set of numbers or measurements.

SUM(range)

A mathematical function that adds together all numbers in a specified range.