What is the future value of 375 dollars at an interest rate of 3 percent one year from today?
A)371.75
B)386.25
C)393.33
D)None of the above are correct to the nearest cent.

Question

Quizplus · Accepted Answer

Future value = Present value * (1 + interest rate)
= 375 * (1 + 0.03)
= 386.25
Therefore, the future value of 375 dollars at an interest rate of 3 percent one year from today is 386.25. The correct answer is option B.

What Is the Future Value of 375 Dollars at an Interest