What is the future value of $600 deposited for 4 years earning an 11 percent interest rate annually?
A)$792.90
B)$803.61
C)$899.23
D)$910.84

Question

Quizplus · Accepted Answer

The future value is calculated using the formula FV = PV * (1 + r)^n, where PV is the present value ($600), r is the interest rate (0.11), and n is the number of years (4). Plugging in the values, FV = 600 * (1 + 0.11)^4 = 600 * 1.5181 = $910.84.

What Is the Future Value of $600 Deposited for 4