What is the future value of a $100 lump sum invested for five years in an account paying 10 percent interest?
Ans C. $ 161.05
FV = | Future Value |
PV = | Present Value |
r = | rate of interest |
n= | no of period |
FV = | PV (1 + r )n |
FV = | 100*(1+10%)^5 |
FV = | 161.05 |
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