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Problems 6. Determine the future value at the end of June for the following cash flows using a periodic interest rate of 1% compounded monthly.
| Problems 6. Determine the future value at the end of June for the following cash flows using a periodic interest rate of 1% compounded monthly. These cash flows occur at the end of the respective months. | |||||||
| i = | 1% | compounded monthly | |||||
| MONTH | December | January | February | March | April | May | June |
| Periods | 6 | 5 | 4 | 3 | 2 | 1 | |
| Amounts | $15,000 | $22,000 | $28,000 | $35,000 | $30,000 | $15,000 | |
| FV | |||||||
| Total FV | |||||||
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Financial Management For Public Health And Not For Profit Organizations
Authors: Steven A. Finkler
3rd Edition
0136070736, 978-0136070733
