Jimmy deposits $4,200 now, $2,100 3 years from now, and $4,800 6 years from now. Interest...
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Jimmy deposits $4,200 now, $2,100 3 years from now, and $4,800 6 years from now. Interest is 3% for the first 3 years and 9% for the last 3 years. a. How much money will be in the fund at the end of 6 years? b. What is the present worth of the fund? $ c. What is the uniform series equivalent of the fund (uniform cash flow at end of years 1-6)? $ Round your answers to the nearest whole dollar. The tolerance is ±4.00. Jimmy deposits $4,200 now, $2,100 3 years from now, and $4,800 6 years from now. Interest is 3% for the first 3 years and 9% for the last 3 years. a. How much money will be in the fund at the end of 6 years? b. What is the present worth of the fund? $ c. What is the uniform series equivalent of the fund (uniform cash flow at end of years 1-6)? $ Round your answers to the nearest whole dollar. The tolerance is ±4.00.
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Answer rating: 100% (QA)
Initial Deposits 4200 Interest for first 3 Year 3 Future Value 4800 x 10033 524... View the full answer
Related Book For
Finite Mathematics and Its Applications
ISBN: 978-0134768632
12th edition
Authors: Larry J. Goldstein, David I. Schneider, Martha J. Siegel, Steven Hair
Posted Date:
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