Suppose You Used the FV Excel Function to Determine Whether

question 64

Multiple Choice

Suppose you used the FV Excel function to determine whether your rate of saving will be sufficient to purchase the $1 million item you want ten years from now. Your savings rate is

• A)Just right
• B)Too low
• C)Too high if the FV calculation yields a number less than $1 million and too low otherwise.
• D)Too high if the FV calculation yields a number more than $1 million and too low otherwise.

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