Marcos is investing $5 today at 7 percent interest so he can have $35 later.This $35 is referred to as the:
A)true value.
B)future value.
C)present value.
D)discounted value.
E)complex value.

Question

Quizplus · Accepted Answer

The $35 Marcos will receive later is the future value of his $5 investment at 7 percent interest. The $35 that Marcos will have in the future is referred to as the future value of his investment.

Marcos Is Investing $5 Today at 7 Percent Interest So