Future Value

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The principle that a dollar today is worth more than a dollar in the future is called:

A.Inflation targeting

B.The time value of money

C.Arbitrage

D.Diversification

The future value of $1,000 after 3 years at 5% simple interest is:

A.$1,050

B.$1,150

C.$1,157.63

D.$1,500

An annuity is best described as:

A.A single lump-sum payment

B.A series of equal payments made at regular intervals

C.An interest rate

D.A type of stock

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