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At the end of each of the next 5 years, you will deposit the following amount into your savings account: Year Cash Flow 1 $200

At the end of each of the next 5 years, you will deposit the following amount into your savings account:

Year Cash Flow
1 $200
2 $300
3 $400
4 $300
5 $600

You expect interest rates to be higher in the future. Your best guess of what rates will be in the future is:

Rate 1 year from now 10%
Rate 2 years from now 11%
Rate 3 years from now 12%
Rate 4 years from now 13%

If you forecast of interest rates is correct, how much money will you have 5 years from now?

Hint: Find your balance at the end of each year.

Round your answer to 2 decimal places, for example 100.12.

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