The future value of $200 received today and deposited at 8 percent for three years is approximately ________.
A)$248
B)$252
C)$159
D)$253

Name: The future value of $200 received today and deposited at 8 percent for three years is approximately ________. A)$248 B)$252 C)$159 D)$253
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Using the future value formula:
FV = PV * (1 + r)^n
where PV = present value, r = interest rate, n = number of periods

FV = 200 * (1 + 0.08)^3
FV = 200 * 1.2597
FV ≈ $251.94

Therefore, the best choice is B.

The Future Value of $200 Received Today and Deposited at 8