Question #188073

When deposit into saving account is with a 12 percent rate of return per year. Determinae the future value of 7 year.Tge cash flow of 4 year is 4000 and after that 3 year is 3000 respectively.


1
Expert's answer
2021-05-03T10:55:46-0400

The future value after the 7 years is:

FV=(((4000×(1.124−1)/0.12+3000)×1.12+3000)×1.12+3)×1.12=34,839.79.FV = (((4000×(1.12^4 - 1)/0.12 + 3000)×1.12 + 3000)×1.12 + 3)×1.12 = 34,839.79.


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