Jimmy deposits $ 3,600 now, $ 2,500 3 years from now, and $ 5,800 6 years from now. Interest is 6% for the first 3 years and 7 % for the last 3 years. (Round your answers to the nearest whole dollar. The tolerance is +/- 4.00) a. How much money will be in the fund at the end of 6 years? $ b. What is the present worth of the fund? $ c. What is the uniform series equivalent of the fund (uniform cash flow at end of years 1-6)?

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
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Jimmy deposits $3,600 now, $ 2,500 3 years from now, and $ 5,800 6 years from now. Interest is 6 % for the first 3
years and 7 % for the last 3 years.
(Round your answers to the nearest whole dollar. The tolerance is +/- 4.00)
a. How much money will be in the fund at the end of 6 years?
$
b. What is the present worth of the fund?
$
c. What is the uniform series equivalent of the fund (uniform cash flow at end of years 1-6)?
69
Transcribed Image Text:Jimmy deposits $3,600 now, $ 2,500 3 years from now, and $ 5,800 6 years from now. Interest is 6 % for the first 3 years and 7 % for the last 3 years. (Round your answers to the nearest whole dollar. The tolerance is +/- 4.00) a. How much money will be in the fund at the end of 6 years? $ b. What is the present worth of the fund? $ c. What is the uniform series equivalent of the fund (uniform cash flow at end of years 1-6)? 69
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