The future value of a deposit in a savings account will be larger : A. the longer a person waits to withdraw the funds.
Future value can be defined as what the value of asset will be at the future or can be defined as what a money that was invested now will tend to worth in the future based on the projected growth rate.
In a situation were the future value is larger this implies that the longer a person waits to take the money, the higher the interest rate that the person will earn.
Example a person that deposit money into a savings account for 10 years will earn more interest rate than a person that deposit money into his/her savings account for 3 years or 5 years.
The formula for future values is:
FV =PV(1+i)^n
Where:
PV = Present value
i = interest rate.
n= numbers of period
Therefore the correct option is A.
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