You plan to invest $1,200 at the end of year 1, $2,000 at the end of year 2, and $3,700 at the end of year 3. If you can earn 6.50 %, compounded annually, how much you will have in your account by the end of the 3rd year.

You plan to invest $1,200 at the end of year 1, $2,000 at the end of year 2, and $3,700 at the end of year 3. If you can earn 6.50 %, compounded annually, how much you will have in your account by the end of the 3rd year.

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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Question

You plan to invest $1,200 at the end of year 1, $2,000 at the end of year 2, and $3,700 at the end of year 3.

If you can earn 6.50 %, compounded annually, how much you will have in your account by the end of the 3rd year.

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