Knowledge Check 01 Periods 1% 2% 3% 4% 5% 0 1.0000 1.0000 1.0000 1.0000 1.0000 1 1.0100 1.0200 1.0300 1.0400 1.0500 2 1.0201 1.0404 1.0609 1.0816 1.1025 3 1.0303 1.0612 1.0927 1.1249 1.1576 4 1.0406 1.0824 1.1255 1.1699 1.2155 5 1.0510 1.1041 1.1593 1.2167 1.2763 6 1.0615 1.1262 1.1941 1.2653 1.3401 Use this partial future value of 1 table to determine how long it will take to accumulate a future value of $1,200 assuming a present amount of $987 and an interest rate of 5 percent. multiple choice 1 year 2 years 3 years 4 years 5 years 6 years