Question: Given below are the future value factors for 1 at 12% for one to five periods. Interest is compounded annually at 12%. Periods Future Value

Given below are the future value factors for 1 at 12% for one to five periods. Interest is compounded annually at 12%.

Periods Future Value of 1 at 12%

1 1.120

2 1.254

3 1.405

4 1.574

5 1.762

What amount should be deposited in a bank account today to grow to $26800 three years from today?

$26800 1.405

$26800 1.120 3

$26800 1.405

$26800 1.405 3

I am not sure if i am correct can you please help me understand how to calculate this.

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