Jimmy deposits 3800 now 2700 3 years from now and 4400 6, Ask an Expert

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Jimmy deposits $ 3,800 now, $ 2,700 3 years from now, and $ 4,400 6 years from now. Interest is 7 % for the first 3 years and 8 % for the last 3 years.

(He deposits 3800 at year 0 and gains interest at 7%, then deposits 2700 and he is paid 8% on the total, and then a final deposit of 4400 at the end of year 6.

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)?

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92798912

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