What Is the Future Value of $450 at an Interest

question 80

Multiple Choice

What is the future value of $450 at an interest rate of 11 percent one year from today?

• A)$495.00
• B)$495.40
• C)$494.50
• D)$499.50

---

Definitions:

Expense Account

An account where costs incurred by a business, like rent, utilities, and salaries, are recorded.

Intangible Asset

An asset that lacks physical substance but offers value to a business, such as trademarks, patents, and copyrights.

Mining Rights

Legal permissions granted to companies or individuals to extract minerals or other valuable materials from the earth.

Depletion Expense

An accounting concept used to allocate the cost associated with natural resource extraction over the period of their removal or sale.