Question

Aaron wants to put $200.00 per month into an IRA account at 15% for four years. What is he solving for using his financial calculator?

A. Present Value
B. Future Value
C. Interest Rate
D. Payment

Answer 1

its either b or d

Answer 2

future value

Answer 3

[AI-generated answer — Explain Bot]

To solve this problem, Aaron wants to determine how much money he will have after four years of making monthly contributions of $200.00 into an IRA account earning an interest rate of 15%.

Using a financial calculator, Aaron needs to solve for the Future Value, which is the total amount of money he will have in the account at the end of the four years.

Therefore, the correct answer is:
B. Future Value