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11. In January 2008, you placed $1,200 your grandparents gave you in a savings account. In January 2010, you added $2,700 you received as a
11. In January 2008, you placed $1,200 your grandparents gave you in a savings account. In January 2010, you added $2,700 you received as a Christmas bonus to the account. In January 2011, you added $1,000 that you received as a scholarship. In January 2014, you added $1,200 that you won in a lottery. You have been earning 6% interest, compounded annually on the account. How much do you have in the account in January 2015? Hints: Calculate the FV of the CFs respectively, and then sum all the FVs up.
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