What is the future value (FV)of $72,000 in 25 years,assuming the interest rate is 5.5% per year?
A)$1.9 million
B)$274,564
C)$171,000
D)$1.8 million
E)$144,000

Question

Quizplus · Accepted Answer

The future value (FV) can be 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. Plugging in the values: FV = $72,000 * (1 + 0.055)^25 = $274,564.

What Is the Future Value (FV)of $72,000 in 25 Years,assuming