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 13%, assuming no withdrawals are made during the period. Year 1/ $20,000, Year 2/ $9,200, Year 3/ $6,200. ( ROUND TO NEAREST CENT)

Jun 10th, 2015

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

Annual interest = 13%

Difference between the years:

20000 - 9200 =10800

9200 - 6200 = 3000

10800 - 3000 =7800

13/100 x 7800 =1014

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

So whats the final answer rounded?

Jun 10th, 2015

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