What Is the Future Value of $750 One Year from Today

question 170

Multiple Choice

What is the future value of $750 one year from today if the interest rate is 2.5 percent?

• A)$766.50
• B)$768.75
• C)$770.23
• D)None of the above are correct to the nearest cent.

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Definitions:

New Technology

The latest advancements and innovations in methods, tools, or devices that improve efficiency, productivity, or performance in various fields.

Patent Scarcity

Refers to the situation where there is a lack of available patents, often due to high competition or rigorous patenting criteria which can limit innovation.

Natural Scarcity

A situation where resources are limited in availability due to natural conditions, not enough to meet unlimited human wants.

Usury Laws

Usury Laws are regulations governing the interest rate that can be charged on a loan, designed to protect consumers from excessively high rates.