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Today, 02:42

What is the future value of $750 one year from today if the interest rate is 2.5 percent? a. $768.75 b. $766.50 c. $770.23 d. none of the above are correct to the nearest cent?

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  1. Today, 04:18
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    To get the future value of this amount, we should use the formula I = Prt so that we could get the interest and then add it to the principal amount to get the future value.

    I = Prt

    Where: P stands for principal, r for the rate and t for time.

    Plugging in the values in the given:

    I = (750) (0.025) (1)

    Interest = 18.75

    Future value = Principal + Interest

    = 750 + 18.75

    = 768.75

    The answer is letter a.
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Home » Business » What is the future value of $750 one year from today if the interest rate is 2.5 percent? a. $768.75 b. $766.50 c. $770.23 d. none of the above are correct to the nearest cent?
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