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

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Finance

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

$13,406.74

$12,909.82

$12,510.77

$15,007.53

Answer & Explanation Solved by verified expert
3.7 Ratings (400 Votes)

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

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Transcribed Image Text

Calculate the future value in year 12 of a $2,000deposit in Year 3 and another $4,000 deposit at the end of Year 5using a 10% compound rate.$13,406.74$12,909.82$12,510.77$15,007.53

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