What Is the Future Value of $1,000 in Three Years

question 79

Multiple Choice

What is the future value of $1,000 in three years if the rate of discount is equal to 5 percent?

• A) $1,150.00
• B) $1,005.00
• C) $1,157.63
• D) $863.84

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Definitions:

Balanced Equation

A chemical equation where the number of atoms for each element, and thus the total charge, is the same on both the reactants' and the products' sides.

CH4O

CH4O represents the chemical formula for methanol, a simple alcohol used as a solvent, fuel, and antifreeze.

H2O

The chemical formula for water, a compound consisting of two hydrogen atoms bonded to one oxygen atom.

Balanced Equation

A chemical equation where the number of atoms for each element is equal on both the reactant and product sides, indicating mass conservation.