Curtis is planning to invest $50 per month for the next 60 months and expects to earn 5% in interest.Which of the following functions can he use to determine how much the investment will be worth at the end of 60 months?
A) PMT
B) NPER
C) FV
D) PV

Question

Quizplus · Accepted Answer

PMT is used to calculate periodic payments, NPER is used to calculate the number of periods needed to reach a certain investment goal, and PV is used to calculate the present value of an investment. 
Therefore, Curtis should use FV (future value) function in order to determine the amount of investment that will be worth at the end of 60 months.

Curtis Is Planning to Invest $50 Per Month for the Next