In the compound interest formula, what does 'FV' stand for?

In the compound interest formula, 'FV' stands for Future Value. This is a key concept in finance that represents the amount of money that an investment will grow to over a specified period of time at a given interest rate. The Future Value is determined by the initial principal amount, the interest rate, the frequency of interest compounding, and the duration of the investment. Understanding this terminology is crucial for solving problems related to investments, loans, and savings, as it helps you predict the outcomes of financial scenarios over time. The other options do not accurately represent the standard terminology used in finance, where Future Value is widely recognized and utilized in mathematical calculations involving compound interest.