Compute the future value in year 7 of a $2,200 deposit in year 1, and another $1,700 deposit at the end of year 4 using a 8 percent interest rate. Note: Do not round intermediate calculations and round your final answer to 2 decimal places. Future value $ 3,770.41

Compute the future value in year 7 of a $2,200 deposit in year 1, and another $1,700 deposit at the end of year 4 using a 8 percent interest rate. Note: Do not round intermediate calculations and round your final answer to 2 decimal places. Future value $ 3,770.41

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter11: Capital Budgeting Decisions

Section: Chapter Questions

Problem 8EB: You put $600 in the bank for 3 years at 15%. A. If Interest Is added at the end of the year, how...

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Question

Compute the future value in year 7 of a $2,200 deposit in year 1, and another $1,700 deposit at the end of year 4 using a 8 percent
interest rate.
Note: Do not round intermediate calculations and round your final answer to 2 decimal places.
Future value
$
3,770.41

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