What is the formula you should use to determine a bank account's future value in 1 year?
A) Future value equals the present value plus the rate of interest.
B) Future value equals the present value minus the rate of interest.
C) Future value equals the present value multiplied by one plus the rate of interest in decimals.
D) Future value equals the present value divided by one plus the rate of interest in decimals.
Correct Answer:
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