What is the future value of $16.54 after two years if these funds can be invested to earn 5.5%,compounded annually?
A) $18.24
B) $18.36
C) $18.58
D) $18.50
E) $18.41

Question

Quizplus · Accepted Answer

FV = PV × 11ea7fdb_fc26_603e_a768_e9b2d9dfe58d_TB2902_00 FV = 16.54 × 11ea7fdb_fc26_603f_a768_e742cf2048d3_TB2902_00 = $18.41
Using a financial calculator:
N = 2, I/Y = 5.5, PV = -16.54, PMT = 0, cpt FV = $18.41

What Is the Future Value of $16