If the current rate of interest is 8%,then the future value 20 years from now of an investment that pays $1,000 per year and lasts 20 years is closest to:
A) $45,761
B) $36,725
C) $9,818
D) $93,219

Name: If the current rate of interest is 8%,then the future value 20 years from now of an investment that pays $1,000 per year and lasts 20 years is closest to: A) $45,761 B) $36,725 C) $9,818 D) $93,219
Brand: Quizplus
Rating: 4.8 (26 reviews)

Question

Quizplus · Accepted Answer

A) N = 20
I = 8
PMT = 1,000
PV = 0
Compute FV = $45,761

If the Current Rate of Interest Is 8%,then the Future