If the current rate of interest is 8% APR, then the future value of an investment that pays $250 per quarter and lasts 20 years is closest to:
A) $18,519
B) $48,443
C) $9936
D) $20,000
B
Explanation: B) FV = C/r ((1 + r)N-1 ) = 250/.02 ((1 + 0.02)80 - 1)
FV = $48,443
Business
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