If Mike deposited and withdrew as shown below, how much can he withdraw at the end of 5th year? Assume i=4%. If it is a deposit, then enter

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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If Mike deposited and withdrew as shown below, how much can he
withdraw at the end of 5th year? Assume i=4%. If it is a deposit, then enter
the value as a negative number and if it is a withdrawal, then enter the
value as a positive number.
n
0
1
2
3
4
5
CF
0
-500
-400
500
-500
-500
If the answer is a dollar value then enter the number without any comma,
without $sign, without any gap, and with 2 decimal digits, for example,
-5896547.12
4
If the answer is a % then enter the number with 3 decimal digits followed
by a % sign without any gap, for example 3.123% or 4.210%
Transcribed Image Text:If Mike deposited and withdrew as shown below, how much can he withdraw at the end of 5th year? Assume i=4%. If it is a deposit, then enter the value as a negative number and if it is a withdrawal, then enter the value as a positive number. n 0 1 2 3 4 5 CF 0 -500 -400 500 -500 -500 If the answer is a dollar value then enter the number without any comma, without $sign, without any gap, and with 2 decimal digits, for example, -5896547.12 4 If the answer is a % then enter the number with 3 decimal digits followed by a % sign without any gap, for example 3.123% or 4.210%
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