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Calculate, to the Nearest Cent, the Future Value of an Investment

Question 29

Multiple Choice

Calculate, to the nearest cent, the future value of an investment of $14,000 at 4.25% per year, compounded quarterly (4 times per year) , after 7 years.


A) FV=$18,821.28F V = \$ 18,821.28
B) FV=$14,607.35F V = \$ 14,607.35
C) FV=$44,901.19F V = \$ 44,901.19
D) FV=$18,735.29F V = \$ 18,735.29
E) FV=$15,075.03F V = \$ 15,075.03

Correct Answer:

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