Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. finance
  3. you will deposit $300 per year for the next 5 year

You will deposit $300 per year for the next 5 years. You expect the interest rate...

90.2K

Verified Solution

Question

Finance

You will deposit $300 per year for the next 5 years. You expectthe interest rate 1 year from now to be 8%, 2 years from now to be8%, 3 years from now to be 12%, and 4 years from now to be 9%. Ifyour forecast of interest rates is correct, how much money will youhave 5 years from now?

Round your answer to 2 decimal places, for example 100.12.

Answer & Explanation Solved by verified expert
4.2 Ratings (507 Votes)
First 300 will be deposited in year 1 and will earn interest at 8 for 4 years second 300 will be deposited in year 2 and will earn interest at 8 for 3 years third    See Answer
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Medical Sciences
1.2K views

Let's discuss joints and the mechanics of the skeletal system. Pick a joint and identify the...

Medical Sciences
1.2K views

Why right kidney enlarges after left kidney lost?

General Management
1.2K views

Business Law List the four types of consideration. 2. Can $1.00 be adequate consieration? Why or...

Geometry
1.2K views

Solve 82 64 find value of z Select one O a 2 Ob 1 2...

Geometry
1.2K views

Draw an image of the following mapping and name the type of mapping.(x,y) - >(x-6,y+4)(x,y)...

Basic Math
1.2K views

7 The coordinates of the midpoint of a vertical line segment are 1 3 Which...

Basic Math
1.2K views

Which expressions are equivalent to the one below Check all that appl log 1 log5...

Statistics
1.2K views

Suppose a researcher collects data on the pollen allergen levels measured in grains per cubic...

Algebra
1.2K views

16 Z 6 4 Z 5 2i I Find 2 22 in rectangular form I...

Accounting
1.2K views

Question 1 (31 marks) Joan W Wrong Supermarket sells...

Accounting
1.2K views

multiple choice Dennis Company reported net income of $61,000 on...

Accounting
1.2K views

Kristen Lu purchased a used automobile for $8,350 at the beginning of last year and...