Math question Help Needed

label Accounting
account_circle Unassigned
schedule 1 Day
account_balance_wallet $5

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

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