The Future Value of $200 Received Today and Deposited at 8

question 76

Multiple Choice

The future value of $200 received today and deposited at 8 percent compounded semi-annually for three years is:

• A) $380
• B) $158
• C) $253
• D) $252
• E) $248

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Definitions:

Average Price

The mean amount paid or received over a range of prices, goods, or services, calculated by dividing the total cost by the number of units.

Work In Process Inventory

The account that reflects the costs of incomplete products, which include labor, material, and overhead costs.

Standard Labor Cost

A predetermined cost of the labor time required to produce a unit of output, factoring in wages, benefits, and other labor-related costs.

Sales Volume Variance

The difference between the actual units sold and the budgeted units sold, multiplied by the standard selling price per unit.