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

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

Quizplus · Accepted Answer

We can use the Future Value formula, FV=PV(1+r)^n, where PV = $600, r = 0.11, and n = 4. Plugging in the values, we get FV = $910.84, which is the closest to option D. Therefore, D is the correct answer.

What Is the Future Value of $600 Deposited for Four