Question

Am I right?

Answer 1

C?

Answer 2

you multiply the investment by the interest rate

Answer 3

What do you get?

Answer 4

With simple interest (no compounding), FV = PV * n * (1+i) where FV = future value, PV = present value, n = number of periods, and i is the interest rate, expressed as a decimal (10% = 0.1).

1 year of interest at 4% on principal of $5500 = 0.04*5500 = $220. 5 years of interest would be 5*$220 = ?

Answer 5

sorry, wrong formula in there!

FV = PV + PV*n*i

Answer 6

am i wrong?

Answer 7

no, C is correct...

Answer 8

ok.. what does V stand for in the formula?

Answer 9

oh, PV = present value, FV = future value

not a separate variable, just a two-letter name

Answer 10

O, thanks

Answer 11

got any others?

Answer 12

yes

Answer 13

my answer is B

Answer 14

your answer is correct

Answer 15

the prospect of figuring out the other answer choice makes my head hurt :-)

Answer 16

ill open up a new box