Mae expects to receive $1,000 at the end of each of the next three years. She will deposit these payments into an account which pays 10%, compounded semi-annually. How much will be the future value of these payments, that is, the value at the end of the third year? a. $7,986.00 b. $3,318.01 c. $3,993.00 d. $665.50

Mae expects to receive $1,000 at the end of each of the next three years. She will deposit these payments into an account which pays 10%, compounded semi-annually. How much will be the future value of these payments, that is, the value at the end of the third year? a. $7,986.00 b. $3,318.01 c. $3,993.00 d. $665.50

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter5: The Time Value Of Money

Section: Chapter Questions

Problem 25P

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