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An investment will produce the following uneven cash flows at the end of the next 3 years: $2,500; $4,000; and $6,000. If the rate of
An investment will produce the following uneven cash flows at the end of the next 3 years: $2,500; $4,000; and $6,000. If the rate of return is 4.75%, determine the total amount of money that the investor will have by the end of year 4 assuming annual compounding.
I know the answer is $13,547.47, but I don't know how to arrive at the answer. Please provide a detailed, step-by-step explanation on how to get the answer. Thanks!
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