Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. finance
  3. your sister is going to put savings away for a tot

Your sister is going to put savings away for a total of 21 years. Every...

60.1K

Verified Solution

Question

Finance

image

Your sister is going to put savings away for a total of 21 years. Every three years she will put away savings of $12,000, starting with her first savings three years from today. The annual interest rate is 4%. What is the future value (FV) of these cash flows, exactly 21 years from today? $53,931 $75,423 $110,320 $122,896

Answer & Explanation Solved by verified expert
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: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

A machine is used to fill soda bottles The a bottle varies slightly Suppose the...

Basic Math
Q

1. In a tabular form, differentiate between the superior mesenteric artery and the inferior mesenteric artery. 2. Compare...

Medical Sciences
Q

A restaurant prepares 200.00 pizza slices and sells them at a rate of $15.00/slice. Expenses for...

Finance
Q

Identify the kind of reasoning used in each of the following statements (Chapter 17). What weaknesses,...

Psychology
Q

During DNA replication which enzyme is responsible for unwinding the original DNA strand 53 1537...

Biology
Q

Openness Gender neutrality Local control Separation of church and state Based on this list and...

Biology
Q

If a line has an x-intercept at x = -10 and a y-intercept at y...

Basic Math
Q

Let B be the event that a randomly chosen person has low blood pressure. Let...

Statistics
Q

You may need to use the appropriate appendix table or technology to answer this question...

Statistics
Q

Earth Horizon A satellite S in circular orbit around the earth is sighted by a...

Algebra
Q

World Company expects to operate at 90% of its productive capacity of 17.000 units per...

Accounting
Q

Round your answer to the nearest cent

Accounting