Calculate the future value in year 12 of a $2,000 deposit in Year 3 and another...

Calculate the future value in year 12 of a $2,000 deposit in Year 3 and another $4,000 deposit at the end of Year 5 using a 10% compound rate.

$13,406.74

$12,909.82

$12,510.77

$15,007.53

Expert Solution

Year	Cash flow	FVIF@10%	Future value
3	$ 2,000	2.358	$ 4,715.90
4	$ -	2.144	$ -
5	$ 4,000	1.949	$ 7,794.87
6	$ -	1.772	$ -
7	$ -	1.611	$ -
8	$ -	1.464	$ -
9	$ -	1.331	$ -
10	$ -	1.210	$ -
11	$ -	1.100	$ -
12	$ -	1.000	$ -

A/c balance after 12 years			$ 12,510.77

jeff jeffy answered 1 year ago

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