Problem 5-43 Future Value (LG5-1) Given an interest rate of 8 percent, compute the year 7 future value if deposits...

Question

Question

Answer 1

Answer #1

Future Value = 1,900(1.08)⁶ + 2,900(1.08)⁴ -925(1.08)³

Future Value = $5,795.25

So,

Future Value = $5,795.25

Answer 2

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