Homework Answers
Value at the end of 4 years,
= [$560 * (1 + R)4] + [$730 * (1 + R)3] + [$730 * (1 + R)2] + [$840 * (1 + R)1]
= [$560 * (1 + 0.06)4] + [$730 * (1 + 0.06)3] + [$730 * (1 + 0.06)2] + [$840* (1 + 0.06)1]
= $706.99 + $869.44 + $820.23 + $890.40
Future value = $3,287.06
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