Multiple Choice
What is the formula you should use to determine a bank account's future value in one 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 expressed as a decimal.
D) Future value equals the present value divided by one plus the rate of interest expressed as a decimal.
Correct Answer:
Verified
Correct Answer:
Verified
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