What Is the Future Value (FV) of $20,000 in Four

question 93

Multiple Choice

What is the future value (FV) of $20,000 in four years, assuming the interest rate is 4% per year?

• A) $15,208.16
• B) $19,887.59
• C) $23,397.17
• D) $25,736.89

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Definitions:

Industrial Growth

The expansion of the manufacturing sector, marked by increased production, technological innovation, and economic development.

Textile Mills

Factories involved in the production of fabrics from various raw materials.

Old Southwest

The southwestern territories of the United States during the 19th century, before the expansion further west, often referring to areas like Alabama, Mississippi, and parts of Louisiana.

State Governments

The individual governing bodies of each of the fifty states in the United States, each with its own constitution and government apart from the federal government.