Question

What is the future value of a $100 lump sum invested for five years in an...

What is the future value of a $100 lump sum invested for five years in an account paying 10 percent interest?

  • A. $156.59
  • B. $159.43
  • C. $161.05
  • D. $165.74
  • E. $171.67
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Answer #1

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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