If the Interest Rate Is 4%,in Which of the Following

question 176

Multiple Choice

If the interest rate is 4%,in which of the following cases is the future value the largest?

• A)An initial value of $1,000 deposited for 5 years.
• B)An initial value of $950 deposited for 6 years.
• C)An initial value of $900 deposited for 7 years.
• D)An initial value of $850 deposited for 8 years.

---

Definitions:

UCC

Refers to the Uniform Commercial Code, a set of laws regulating sales and commercial transactions in the United States.

Restatement

A rephrased or recodified version of legal principles or doctrines aimed at clarifying and simplifying the law.

Omitted Terms

Provisions or clauses not included or specified in a legal document or contract, which can sometimes be interpreted or filled in based on customary practice or judicial discretion.

Firm Offer Rule

A legal principle stating that a merchant’s offer to buy or sell goods, assuring that the offer will remain open for a certain period, is binding and cannot be revoked.