If a deposit of $350.00 earns the following interest rates:

(a) 8% in the 1st year

(b) 6% in the 2nd year

(c) 5.5 % the 3rd year

What would be the 3rd year future value?

I think it would be calculated as follows;

1st year: 350.00 X .08 = 28.00 Which would = 378.00

2nd year 378 x.06=22.68 which would = 400.68

3rd Year 400.68 x.055=22.037=422.72

Have I calculated this correct?