Final answer:
The future value of $875 deposited for one year at an 8% interest rate is $945, calculated using the formula for the future value of an investment.
Step-by-step explanation:
The future value of an investment can be calculated using the formula FV = PV * (1 + r)^n, where PV is the present value, r is the annual interest rate, and n is the number of years the money is invested. For a $875 deposit at an 8 percent interest rate annually for one year, the future value would be calculated as follows:
FV = $875 * (1 + 0.08)^1
FV = $875 * 1.08
FV = $945
Thus, the future value of the $875 deposited for one year at an 8% interest rate is $945.