What amount of cash would result at the end of one year, if $15,000 is invested today and the rate of return is 8%? (Do not round your PV factors.)

Question

Quizplus · Accepted Answer

The future value can be calculated using the formula FV = PV x (1 + r)^n, where PV is the present value, r is the rate of return, and n is the number of years. 
Substituting the given values in the formula, we get 
FV = 15000 x (1 + 0.08)^1 = 15000 x 1.08 = $16,200 
Therefore, the amount of cash at the end of one year would be $16,200.

What Amount of Cash Would Result at the End of One