Answer:
C. Future Value of a series of deposits
Explanation:
Series of deposits refers to regular deposits at different time intervals compounded at a fixed rate of interest.
Future value refers to value of 1$ invested today at r% rate of interest for n periods, at the end of [tex]n^{th}[/tex] period.
It is given by the following formula:
FV = Principle [tex](1\ +\ r)^{n}[/tex]
where FV = Future value of money invested today
r = rate of interest
n = time period of investment
Present value on the other hand is the current value of money to be received after n years.
