What's the Future Value of $1,500 After 5 Years If

question 31

Multiple Choice

What's the future value of $1,500 after 5 years if the appropriate interest rate is 6%,compounded monthly?

• A)$1,922.11
• B)$2,023.28
• C)$2,124.44
• D)$2,230.66

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Definitions:

Court-Ordered

A court-ordered action is mandated by a judicial court, requiring individuals or entities to comply with specific directives or face legal consequences.

Parenting Skills

The abilities and knowledge necessary for raising children in a healthy and supportive manner.

Commitment

an obligation or pledge to do something, such as fulfilling a task or staying loyal to someone or something.

Behavior Independently

Actions or conduct that a person undertakes on their own, without influence or assistance from others.