Which of the Following Correctly Defines Future Value

question 6

Multiple Choice

Which of the following correctly defines future value?

• A)The current value of a said future amount based on the interest rate and time in the account.
• B)The value of an amount at a future date based on the interest rate and time in the account.
• C)A single,one-time payment.
• D)A series of equal payments that are made at equal intervals over time.

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Definitions:

Agreement

A mutual understanding or arrangement between two or more parties, often formalized by a contract, regarding their rights and responsibilities.

Tender

An offer by a contracting party to perform, along with being ready, willing, and able to perform, a duty outlined in the contract.

Conditional Contracts

Legal agreements that require certain conditions to be met before they are fully enforceable.

Quasi-Contract

A court-imposed contractual obligation to prevent unjust enrichment.