Multiple Choice
Which of the following is the correct way to compute the future value of $1 put into an account that earns 5 percent interest for 16 years?
A) $1(1 + .05) 16
B) $1(1 + .0516) 16
C) $1(1 + .0516)
D) $1(1 + 16/.05) 16
Correct Answer:
Verified
Correct Answer:
Verified
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