15. Problem 5.33 (FV of Uneven Cash Flow) eBook You want to buy a house within 3 years, and you are currently saving for the down payment. You plan to save $6,000 at the end of the first year, and you anticipate that your annual savings will increase by 5% annually thereafter. Your expected annual return is 9%. How much will you have for a down payment at the end of Year 3? Do not round intermediate calculations. Round your answer to the nearest cent. $

15. Problem 5.33 (FV of Uneven Cash Flow) eBook You want to buy a house within 3 years, and you are currently saving for the down payment. You plan to save $6,000 at the end of the first year, and you anticipate that your annual savings will increase by 5% annually thereafter. Your expected annual return is 9%. How much will you have for a down payment at the end of Year 3? Do not round intermediate calculations. Round your answer to the nearest cent. $

EBK CFIN

6th Edition

ISBN:9781337671743

Author:BESLEY

Publisher:BESLEY

Chapter4: Time Value Of Money

Section: Chapter Questions

Problem 9PROB

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FV OF AN UNEVEN CASH FLOW STREAM The First Lady just put $10,000 into a new savings account, and she plans to contribute another $20,000 one year form now, and $50,000 two years from now. the savings account pays 6% annual interest. With no other deposits or withdrawals, how much will she have in the account 10 years from today? Group of answer choices $116,937.04 $164,592.62 $131,390.46 $8,246.00
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