Answer to Question #95935 in Finance for khalid

Question #95935

A student spend $400, $700 and $ 600 in years 2, 4, and 7 on purchasing necessary stationery. The total worth of these spends in year 10 at an interest rate of 5% will be equivalent to:

Expert's answer

"FV = 400\\times(1 + 0.05)^9 + 700\\times1.05^7 + 600\\times1.05^4 = 2,334.81."

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