Calculate the future value at the end of year 3 of an investment fund earning 12 percent annual interest and funded with the following end-of-year deposits: £750 in at the end of year 1, £850 and at the end of year 2 and £950 at the end of year 3.
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Expert's answer
2014-07-03T08:44:49-0400
Future Value = Present Value * (1+r)^n
Present Value = C ÷ (1 + r)^n, Where C - Cash flow at a period; r - rate of return and n - number of periods.
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