Question: Given below are the future value factors for 1 at 7% for one to five periods. Interest is compounded annually at 7%. Periods Future Value

Given below are the future value factors for 1 at 7% for one to five periods. Interest is compounded annually at 7%. Periods Future Value of 1 at 7% 1 1.070 2 1.145 3 1.225 4 1.311 5 1.403 If $15200 is deposited in a savings account today, what amount will be available three years from today? ($15200 1.070) + ($15200 1.145) + ($15200 1.225) $15200 1.225 $15200 1.225 $15200 1.070 3

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