What Is the Formula You Should Use to Determine a Bank

question 81

Multiple Choice

What is the formula you should use to determine a bank account's future value in one year?

• A)Future value equals the present value plus the rate of interest.
• B)Future value equals the present value minus the rate of interest.
• C)Future value equals the present value multiplied by one plus the rate of interest in decimals.
• D)Future value equals the present value divided by one plus the rate of interest in decimals.

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Definitions:

Mutual Interests

Shared common goals or concerns between parties that provide a basis for cooperation or partnership.

Collective Bargaining Agreement

A contract negotiated between employers and a union representing the employees on work terms and conditions.

Business Agent

Normally a paid labour official responsible for negotiating and administering the collective agreement and working to resolve union members’ problems.

Binding Arbitration

A legal process where a dispute is resolved by an arbitrator or arbitral panel, whose decision is final and legally binding on all parties.