Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. finance
  3. calculate the future value in year 12 of a $2,000

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

Free

90.2K

Verified Solution

Question

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

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

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

Other questions asked by students

Q

A car of a roller coaster has a total mass of 1000 kg including the passenger....

Civil Engineering
Q

Introduce current technological challenges with respect to the engineering design of vision systems for drones and...

Mechanical Engineering
Q

e Page s 111 112 6 1 Label a figure of the major stages of...

Biology
Q

R 1 2 k R3 3 3 k 15V E E 5V VR R 2...

Physics
Q

Two fixed frictionless inclined plane making an angle 30 and 60 with the vertical are...

Physics
Q

fully 77x y 88x y O x y 77y 88x O 11x y 7x 8y...

Basic Math
Q

The function f x 2x 39x 240x 1 has one local minimum and one local...

Calculus
Q

3 Alpa Bravo Company has a target capital structure of 40%...

Accounting
Q

when the bank sold its securities of Omr 25000 ( Cost of securities 21500) with...

Accounting
Q

Discuss the Accounting record/ bookkeeping among small and medium enterprise (SME) in Malaysia.

Accounting
Q

Valley Company's adjusted trial balance on August 31, 2016, its fiscal year-end, follows. Debit Credit...

Accounting
Q

On January 14, Tamarisk Corporation purchased 20,11%, $960 Eiger Company bonds for $19,584. On November...

Accounting