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](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F302e2d83-124e-4749-a014-0416d12786b1%2F5e2ec7ce-615c-4fb9-9a35-7aff0846cc91%2Fn3xdw1n_processed.png&w=3840&q=75)
Transcribed Image Text: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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