Multiple Choice
You have been asked to compute the amount that will be available at the end of three years as a result of a single sum of $1,000 that is deposited. What is the interest concept that best describes this application?
A) Present value of a single amount.
B) Present value of an annuity.
C) Future value of a single amount.
Correct Answer:
Verified
Correct Answer:
Verified
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