Answered: What is the future value of $700…

What is the future value of $700 deposited for one year earning 4 percent interest rate annually? Multiple Choice $700 $1,428 $28

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

ChapterA3: Time Value Of Money

Section: Chapter Questions

Problem 3CE

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What is the future value of $700 deposited for one year earning 4 percent interest rate annually?
Multiple Choice
$700
$1,428
$28
$728

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