If you put $2,000 in a saving account that earns 3% interest per year, what is the formula you should use to determine the account's future value in one year?
A) Future value = $2,000 × 0.03.
B) Future value = $2,000 / 0.03.
C) Future value = $2,000 / (1 + 0.03).
D) Future value = $2,000 × (1 + 0.03).
D
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a. True b. False Indicate whether the statement is true or false
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