Question

How much would $100, growing at 5% per year, be worth after 75 years?

$3,689.11


$3,883.27


$4,077.43


$4,281.30


$4,495.37

Answer 1

Answer:

The correct answer is B.

Explanation:

Giving the following information:

How much would $100, growing at 5% per year, be worth after 75 years?

We need to use the following formula:

FV= PV*(1+i)^n

FV= 100*(1.05)^75= $3,883.27