Given a 9 percent interest rate, compute the year 6 future value if deposits of $1,500 and $2,500 are made in years 2 and 3, respectively, and a withdrawal of $600 is made in year 5 ...

Use equation 51 FV 6 1500 1 009 4 2500 1 009 3 ...

Given a 9 percent interest rate, compute the year 6 future value if deposits of $1,500 and

Question:

Given a 9 percent interest rate, compute the year 6 if deposits of $1,500 and $2,500 are made in years 2 and 3, respectively, and a withdrawal of $600 is made in year 5.

Future Value
Future value (FV) is the value of a current asset at a future date based on an assumed rate of growth. The future value (FV) is important to investors and financial planners as they use it to estimate how much an investment made today will be worth...