Answered

Explore Westonci.ca, the premier Q&A site that helps you find precise answers to your questions, no matter the topic. Explore a wealth of knowledge from professionals across various disciplines on our comprehensive Q&A platform. Explore comprehensive solutions to your questions from a wide range of professionals on our user-friendly platform.

An investor deposits $2,000 per year (beginning today) for 10 years in a 4% interest bearing account. The last cash flow is received 1 year prior to the end of the tenth year. What is the investor's future balance after 10 years?

Sagot :

abiolataiwo2015

Answer:

$24,012.21

Explanation:

Calculation for What is the investor's future balance after 10 years

Using financial to find the FV which represent future value

N 10 years

I/Y 4%

PV 0

PMT $2,000 per year

FV ?

Hence:

FV = $24,012.21

Therefore the investor's future balance after 10 years will be $24,012.21

Thank you for visiting. Our goal is to provide the most accurate answers for all your informational needs. Come back soon. Thank you for your visit. We're committed to providing you with the best information available. Return anytime for more. Westonci.ca is committed to providing accurate answers. Come back soon for more trustworthy information.