Question: Determine the future value at the end of June for the following cash flows using a periodic interest rate of 1% compounded monthly: MONTH AMOUNT

Determine the future value at the end of June for the following cash flows using a periodic interest rate of 1% compounded monthly:
MONTH AMOUNT ($)
Dec. ......... 15,000
Jan. ......... 22,000
Feb. ......... 28,000
March ......... 35,000
April ........... 30,000
May .......... 15,000
These cash flows occur at the end of the respective months.

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Using Eq 151 we get the following December F 6 150001 001 6 1592... View full answer

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