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Question? For the following, fill in the blanks with the appropriate term(s). For questions that give you two or three choices to choose from, circle the most appropriate. (7.1) When a deposit earns interest on interest previously received, it is said to be earning is the amount to which an initial deposit, called the ; this process is referred to as -. A -, will grow when interest is compounded at a specified interest rate for a specified number of years. The future value (FV) of an initial deposit (PV) which earns interest at the rate r for t years is given by the la: FV, . The expression is referred to as the future value interest factor, and is abbreviated as following formula: (7.2) A present value is the amount which must be invested today, at a specified -, to grow to a specified -, at a specified . The PV is depended on three values: the , the amount of the and the Computing a PV is called . The rate used in the calculation is called the