What Is the Future Value of $810 Invested at 6 $\$ 821.21$

question 60

Multiple Choice

What is the future value of $810 invested at 6% simple interest for 83 days? Assume ordinary interest; that is, use 360 for the number of days in a year.

• A) \(\$ 821.21\)
• B) \(\$ 1,930.50\)
• C) \(\$ 4,843.80\)
• D) \(\$ 11.21\)
• E) \(\$ 1,120.50\)

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Definitions:

U.S. Dollar

The official currency of the United States, commonly used worldwide as a standard of exchange.

Functional Currency

The main currency used by a business or unit within a company for accounting purposes, reflecting the primary economic environment in which it operates.

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The official currency of the United Kingdom, which is one of the world's oldest currencies still in use.

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Money owed to a business by its customers for goods or services that have been delivered but not yet paid for.