Sandy wants to know how much she needs to save today to have $5,000 in five years at a 7 percent interest rate.Which of the following tables should she use?
A)Present value $1
B)Present value ordinary annuity
C)Future value $1
D)Future value ordinary annuity

Question

Quizplus · Accepted Answer

Sandy should use the Present Value $1 table to determine how much she needs to save today to reach a future value of $5,000 in five years at a 7 percent interest rate.

Sandy Wants to Know How Much She Needs to Save