What Is the Future Value of $800 One Year from Today

question 197

Multiple Choice

What is the future value of $800 one year from today if the interest rate is 7 percent?

• A)$747.66
• B)$756.00
• C)$856.00
• D)None of the above are correct to the nearest cent.

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Definitions:

Roommates

Individuals who share a living space such as a room, apartment, or house, but are not related or romantically involved.

Micro-Level Perspective

A social science perspective that focuses on people’s social interaction patterns in specific settings.

Social Interactions

The process by which individuals act toward or respond to other people and is a fundamental aspect of human behavior that shapes society and social relationships.

Specific Settings

Particular or distinct environments or contexts where certain activities or conditions can occur.