If the Future Value (FV)in Two Years of $100,000 Invested

question 68

Multiple Choice

If the future value (FV) in two years of $100,000 invested in a certain fund that compounds it at a fixed rate annually is $116,640,at what rate has it been compounded?

• A)8.00%
• B)11.66%
• C)16.00%
• D)24.20%
• E)10.00%

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Definitions:

Weak Rock

Rock that is easily deformed or broken, usually due to its composition, weathering, or presence of numerous fractures.

Salt Deposits

Concentrations of salt left behind after the evaporation of saline water, typically found in arid environments or sedimentary basins.

Restricted Seaways

Narrow bodies of water that connect two larger bodies of water, often with limited water flow and unique ecological conditions.

Ocean Basins

Large depressions on the Earth's surface that contain the world's oceans, formed by plate tectonics and shaped by geological processes.