Suppose You Were Going to Save $1,000 Per Year for Three

question 23

Multiple Choice

Suppose you were going to save $1,000 per year for three years at a 10% interest rate compounded annually, with the first investment occurring today. What would be the future value of this investment?

• A) $2,124
• B) $2,310
• C) $3,641
• D) $3,812

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Definitions:

IMF

The International Monetary Fund, an organization aimed at fostering global monetary cooperation and financial stability, facilitating international trade, and reducing poverty.

Economic Growth

Growth in an economy's goods and services production over a specific period, often assessed through the Gross Domestic Product.

IMF

The International Monetary Fund (IMF) is an international organization that aims to promote global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world.

WTO

The World Trade Organization, an international body that deals with the rules of trade between nations to ensure that trade flows as smoothly, predictably, and freely as possible.