$1,200 is received at the beginning of year 1, $2,200 is received at the
beginning of year 2, and $3,300 is received at the beginning of year 3.
If these cash flows are deposited at 12%, their combined future value
at the end of year 3 is?
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1 st yr =$1200
2 nd yr =$2200
3 rd yr =$3300
Time =12 months at a rate of 12%
(1200 x 12 x 12x100)/100 = $172800
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