What will be the future value of $350 in 4 years at interest rate of 7% A Other B $523.16 $1553.98 D) $458.77

Step 1 What is future value?

The future value of cash flow is the future worth of a cash flow at a certain rate of interest and time period.

Future value=cash flow×(1+r)n

Step 2 Calculating future value

According to the question we need to calculate the future value of cash flow.

Where,

Cash flow = $350

Interets rate = 7%

Time period= 4 years

Future value=$350×(1+0.07)4

Future value=$350×1.31079601

Future value=$458.77

The future value of cash flow is $458.77