Frieda Frost recently invested $3,125 in a project that is promising to return 10 percent per...
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Frieda Frost recently invested $3,125 in a project that is promising to return 10 percent per year. The cash flows are expected to be as follows: End of Year 1 2 3 Cash Flow 591 567 586 ???? 4 5 577 Note that the cash flow in year 4 is missing. Determine the Year 4 missing cash flow that will make the present value of this series equal to the amount Frieda invested (that is, $3,125)? Record your answer as a dollar amount rounded to 2 decimal places, but do not include a dollar sign or any commas in your answer. For example, enter $12,327.24987 as 12327.25. Frieda Frost recently invested $3,125 in a project that is promising to return 10 percent per year. The cash flows are expected to be as follows: End of Year 1 2 3 Cash Flow 591 567 586 ???? 4 5 577 Note that the cash flow in year 4 is missing. Determine the Year 4 missing cash flow that will make the present value of this series equal to the amount Frieda invested (that is, $3,125)? Record your answer as a dollar amount rounded to 2 decimal places, but do not include a dollar sign or any commas in your answer. For example, enter $12,327.24987 as 12327.25.
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