What is the total future value ten years from now of $400 received in 1 year, $350 received in 2 years and $900 received in 8 years if the interest rate is 5% per year?O a $2,047.15O b. $2,100.11Oc $2,299.15Od. $2,129.89O e. $2.254.44

Future value of a present amount With present value (PV), annual interest rate (r) and period (n),…

Answered: What is the total future value ten…

What is the total future value ten years from now of $400 received in 1 year, $350 received in 2 years and $988 O a $2,047.15 O b. $2,100.11 Oc$2,299.15 d. $2,129 89 Oe. $2.254.44

Personal Finance

13th Edition

ISBN:9781337669214

Author:GARMAN

Publisher:GARMAN

Chapter1: Understanding Personal Finance

Section1.4: Perform Time Value Of Money Calculations

Problem 3CC

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Question

What is the total future value ten years from now of $400 received in 1 year, $350 received in 2 years and $900 received in 8 years if the interest rate is 5% per year?
O a $2,047.15
O b. $2,100.11
Oc $2,299.15
Od. $2,129.89
O e. $2.254.44

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