I f you deposit in a bank $200 today, $250 a year from now, $150 in...
I f you deposit in a bank $200 today, $250 a year from now, $150 in the second year and $300 in the third year, How much you find in your bank account in the 3rd year if the interest rate is 10%?
Homework Answers
| Year | Amount | × FVF | Future value |
| 0 | 200 | 1.33100 | 266.20 |
| 1 | 250 | 1.21000 | 302.50 |
| 2 | 150 | 1.10000 | 165.00 |
| 3 | 300 | 1.00000 | 300.00 |
| Total | 767.50 |
ANswer is:
767.50
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