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Steven Garcia will deposit $24700 into an account today that earns 12% per year compounded annually. Using the following factors, what is the amount that

Steven Garcia will deposit $24700 into an account today that earns 12% per year compounded annually. Using the following factors, what is the amount that will be in the account at the end of the 6 years?

Type of Cash Flow

Periods

Interest Rate

Factor

PV of $1

6

12%

0.5066

FV of $1

6

12%

1.9738

PV ordinary annuity

6

12%

4.1114

FV ordinary annuity

6

12%

8.1152

PV annuity due

6

12%

4.6048

$24376

$12513

$25026

$48753

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