In an attempt to have funds for a down payment in six years, James Dupont plans...

Transcribed Image Text:

In an attempt to have funds for a down payment in six years, James Dupont plans to save $4,100 a year for the next six years. With an interest rate of 4 percent, what amount will James have available for a down payment after the six years? Use Exhibit 1-B. (Round FVA factor to 3 decimal places and final answer to 2 decimal places.) Answer is complete but not entirely correct. Future value down payment $ 27,158.84 x In an attempt to have funds for a down payment in six years, James Dupont plans to save $4,100 a year for the next six years. With an interest rate of 4 percent, what amount will James have available for a down payment after the six years? Use Exhibit 1-B. (Round FVA factor to 3 decimal places and final answer to 2 decimal places.) Answer is complete but not entirely correct. Future value down payment $ 27,158.84 x