What is the future value of $2,000 deposited for one year earning 6 percent interest rate annually?
A) $120
B) $2.000
C) $2,120
D) $4,120

Question

Quizplus · Accepted Answer

The future value of an investment is calculated using the formula FV = PV(1 + r)^n, where PV is the present value, r is the annual interest rate, and n is the number of years. For a $2,000 deposit at a 6% interest rate for one year, FV = $2,000(1 + 0.06)^1 = $2,120.

What Is the Future Value of $2,000 Deposited for One