HW 3D Question 3 This set of problems is designed to be calculated using the Excel or
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HW 3D
Question 3
This set of problems is designed to be calculated using the Excel or financial calculator. You can also use algebraic formulas. Do not use financial tables to calculate these problems.
You have been offered the opportunity to invest in a project that will pay $1,111 per year at the end of years one through three and $9,498 per year at the end of years four and five. These cash flows will be placed in a saving account that pays 8.42 percent per year. What is the future value of this cash flow pattern at the end of year five?
Round the answer to two decimal places.
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