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Given below are the future value factors for 1 at 8% for one to five periods. Periods Future Value of 1 at 8% 1 1.080
Given below are the future value factors for 1 at 8% for one to five periods.
Periods Future Value of 1 at 8%
1 1.080
2 1.166
3 1.260
4 1.360
5 1.469
If $5,000 is deposited in a savings account today, what amount will be available three years from today?
Select one:
a. $5,000 x 1.080 x 3
b. ($5,000 x 1.080) = ($5,000 x 1.166) + ($5,000 x 1.260)
c. $5,000 x 1.260
d. $5,000 1.260
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