Assume on January 1, 2014 you opened a fixed deposit account with a local bank and between January 1, 2014 and January 1, 2019 you made the following deposits and withdrawals:

Date	Deposits	Withdrawals
January 1, 2014	6,000	0
January 1, 2015	4,000	0
January 1, 2016	0	0
January 1, 2017	0	9,000
January 1, 2018	0	0
January 1, 2019	3,000	0

Assume an interest rate of r = 14% compounded annually.

(a) Write down the cash flow stream; (No need to key-in here.)

(b) What is the value in your account at the beginning of year 2020?

(Keep your answer to 2 decimal places, e.g. 987.12)

Answer rating: 100% (QA)

b To find the value in the account at the beginning of 2020 we first need to calculate the future ... View the full answer