Stephanie Watson plans to make the following investments beginning next year. She will invest $2,886 in each of the next three years and will then make investments of $3,650, $3,725, $3,875, and $4,000 over the following four years. If the investments are expected to earn 12.8 percent annually, how much will Stephanie have at the end of the seven years? (Round answer to 2 decimal places, e.g. 15.25.) Future value $ ________________
Stephanie Watson plans to make the following investments beginning next year. She will invest $2,886 in each of the next three years and will then make investments of $3,650, $3,725, $3,875, and $4,000 over the following four years. If the investments are expected to earn 12.8 percent annually, how much will Stephanie have at the end of the seven years? (Round answer to 2 decimal places, e.g. 15.25.) Future value $ ________________
Chapter5: The Time Value Of Money
Section: Chapter Questions
Problem 22P
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Stephanie Watson plans to make the following investments beginning next year. She will invest $2,886 in each of the next three years and will then make investments of $3,650, $3,725, $3,875, and $4,000 over the following four years. If the investments are expected to earn 12.8 percent annually, how much will Stephanie have at the end of the seven years? (Round answer to 2 decimal places, e.g. 15.25.)
$
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