What Is the Future Value of a Three-Year, $3,000 Deposit

question 216

Multiple Choice

What is the future value of a three-year, $3,000 deposit at 6 percent interest, when interest is compounded continuously?

• A)$3,045.00
• B)$3,540.00
• C)$3,573.05
• D)$3,591.65

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Definitions:

Earned Revenue

Income generated from business activities, recognized when goods are delivered or services are performed, regardless of payment timing.

Realized

Pertaining to gains or losses that have occurred and have been completed through the sale or other disposition of an asset.

Realizable

Pertaining to assets, it refers to the amount of money that can be received from their sale or disposal under normal circumstances.

Percentage-of-Completion

An accounting method typically used in long-term contracts, recognizing revenues and expenses in proportion to the work completed during the period.