In: Finance
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
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 |