Given a 4 percent interest rate, compute the year 6 future value of deposits made in years 1, 2, 3, and 4 of $1,850, $2,150, $2,150, and $2,250, respectively. Note: Do not round intermediate calculations and round your final answer to 2 decimal places. Future value EA $ 9,618.08
Given a 4 percent interest rate, compute the year 6 future value of deposits made in years 1, 2, 3, and 4 of $1,850, $2,150, $2,150, and $2,250, respectively. Note: Do not round intermediate calculations and round your final answer to 2 decimal places. Future value EA $ 9,618.08
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Question
![Given a 4 percent interest rate, compute the year 6 future value of deposits
made in years 1, 2, 3, and 4 of $1,850, $2,150, $2,150, and $2,250, respectively.
Note: Do not round intermediate calculations and round your final answer to
2 decimal places.
Future value
EA
$
9,618.08](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fc759e65e-2ecd-4645-8878-9e48c6da5c1b%2F73dac3f4-1e97-4a9b-ba80-e2b5b01e46e6%2Fd3gl1f9_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Given a 4 percent interest rate, compute the year 6 future value of deposits
made in years 1, 2, 3, and 4 of $1,850, $2,150, $2,150, and $2,250, respectively.
Note: Do not round intermediate calculations and round your final answer to
2 decimal places.
Future value
EA
$
9,618.08
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