Financial Management

label Business & Finance
account_circle Unassigned
schedule 1 Day
account_balance_wallet $5

1.  If you receive $3,300 at the end of each year for the first three years and $3,071 at the end of each year for the next two years. What is the future value of this cash flow stream? Assume interest rate is 9%.

Note: Enter your answer rounded off to two decimal points. Do not enter $ or comma in the answer box. For example, if your answer is $12.345 then enter as 12.35 in the answer box.


Feb 9th, 2015

FV=PV(1+i)^n

(3300)(1.09)^5 + (3300)(1.09)^4 + (3300)(1.09)^3 +(3071)(1.09)^2+(3071)(1.09)^1= 21,005.32

Feb 9th, 2015

Did you know? You can earn $20 for every friend you invite to Studypool!
Click here to
Refer a Friend
...
Feb 9th, 2015
...
Feb 9th, 2015
Jun 24th, 2017
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