Which of the Following Best Expresses the Future Value of $100

question 58

Multiple Choice

Which of the following best expresses the future value of $100 left in a savings account earning 3.5% for three and a half years?

• A)$100(1.035)3.5
• B)$100(0.35)3.5
• C)$100 × 3.5 × (1.035)
• D)$100(1.035)3/2

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Definitions:

Single Parents

Individuals who are raising children without the involvement of the other parent in the home.

Poverty

The state of having insufficient financial resources or material possessions for a minimum standard of living.

Occupation

A person's principal work or business, especially as a means of earning a living; a profession or job.

Income

Monetary gain derived from work, investments, or social benefits, serving as a measure of economic well-being and resource availability for individuals or households.