What's the Future Value of $1,500 After 5 Years If

question 47

Multiple Choice

What's the future value of $1,500 after 5 years if the appropriate interest rate is 6%,compounded semiannually?

• A)$1,819.33
• B)$1,915.08
• C)$2,015.87
• D)$2,116.67

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Definitions:

Franz Mesmer

An 18th-century physician best known for developing what he called "animal magnetism" and what later became known as mesmerism, a precursor to hypnotism.

Theodore Sarbin

An American psychologist and professor known for his work in the development of narrative psychology.

Hypnosis

A trance-like state of focused attention and increased suggestibility, often used for therapeutic purposes.

Fantasy

An imaginative or fanciful thought, not grounded in reality, often serving as a mental escape from mundane or stressful scenarios.