Suppose you deposit $2,500 at the end of year 1, nothing at the end of year 2, $750 at the end of year 3, and $1,300 at the end of year 4. Assuming that these amounts will be compounded at an annual rate of 15 percent, how much will you have on deposit at the end of five years?

Suppose you deposit $2,500 at the end of year 1, nothing at the end of year 2, $750 at the end of year 3, and $1,300 at the end of year 4. Assuming that these amounts will be compounded at an annual rate of 15 percent, how much will you have on deposit at the end of five years?

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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