The future value of a deposit is _______, where r = interest rate, n = periods, and PV = present value.
A)PV × (1 + r)× n
B)PV × (1 + r)n
C)PV × (r)n
D)PV / (1 + r)n

Question

Quizplus · Accepted Answer

The future value of a deposit is calculated using the formula FV = PV × (1 + r)^n, where PV is the present value, r is the interest rate per period, and n is the number of periods. This formula accounts for compound interest over multiple periods.

The Future Value of a Deposit Is _______, Where R