Single choice6)The formula used to calculate the future value of an amount is:1/(1=r) n(1+r) n(1+r) x n

The amount of money that would have to be invested today at a given interest rate overa specified period in order to equal a future amount is called__________.A) Future value. B) Present value. C) Future value interest factor. D) Present value interestfactor.

.Which of the following represents the future value of a present sum of money?Answer areaThe sum plus the interest earned over a specified periodThe sum multiplied by the interest rate.The sum minus the interest earned over a specified period.The sum divided by the interest rate.

Which of the following is/are correct?• A: The interest rate, i, makes current and future currency amounts equiv-alent based on their time value.• B: The future value, FV is the present value, PV, times the future valuefactor, (1 + i)n.• C: The effective annual rate is the amount by which a unit of currencywill grow in a year with interest on interest included.

If P = 1,000, R = 5% p.a, n = 4; What is Amount and C.I. isa.1,215.50, 215.50b.1,125, 125c.2,115, 115d.2,215, 215Clear my choice

The output of the following function is the future value of an account if:PV dollars are depositedLeft for Y yearsAt an annual rate of rWith n compounds per year                                                                                     𝐹𝑉=𝑃𝑉(1+𝑟𝑛)(𝑛𝑌)  Marissa plans to put $4300 dollars in an account that earns 4% interest compounded monthly. Use the formula or the FV function in Excel to find Marissa's account balance in 13 years.  (Do not round until the final answer, then round your answer to the nearest dollar, and don't include the dollar sign.)