Math question Help Needed

Accounting
Tutor: None Selected Time limit: 1 Day

For the following mixed streams of cash flow, determine the future value at the end of the final year if deposits are made at the beginning of each year into an account paying an annual interest of 8%, assuming no withdrawals are made during the period. Year 1/ $17,000, Year 2/ $8,900, Year 3/ $6,300

Jun 10th, 2015

Thank you for the opportunity to help you with your question!

fv=pv(1+i)^n

for all three years as a sum

fv=[17000(1.08)^1]+[8900(1.08)^2]+[6300(1.08)^3]

fv=18360+10381+7875

fv=36616.......................................................................................................

Please let me know if you need any clarification. I'm always happy to answer your questions.
Jun 10th, 2015

Are you studying on the go? Check out our FREE app and post questions on the fly!
Download on the
App Store
...
Jun 10th, 2015
...
Jun 10th, 2015
Dec 9th, 2016
check_circle
Mark as Final Answer
check_circle
Unmark as Final Answer
check_circle
Final Answer

Secure Information

Content will be erased after question is completed.

check_circle
Final Answer