Use estimation to select the best response. Do not calculate.
If you deposit $100 in a bank account for a year, what is the future value likely to be?

A) $105
B) $1
C) $300
D) $5
E) impossible to estimate

Question

Use estimation to select the best response. Do not calculate. ​
If you deposit $100 in a bank account for a year, what is the future value likely to be?
​
A) $105
B) $1
C) $300
D) $5
E) impossible to estimate

Quizplus · Accepted Answer

Assuming a simple interest rate of 5%, the future value would be $105. The other answer choices are either too low or unrealistic.

Use Estimation to Select the Best Response