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PLEASE SHOW WORK Joey is planning to invest his savings in a fixed income fund. He manages to deposit $700 at the end of the
PLEASE SHOW WORK
Joey is planning to invest his savings in a fixed income fund. He manages to deposit $700 at the end of the first year, $500 at the end of the second year, $300 at the end of the third year, and $600 at the end of the fourth year. If the fund earns 6 percent interest each year, the terminal value of this uneven cash flow stream at the end of Year 4 is _____.
$2,314
$1,784
$1,855
$2,355
$2,097
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