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Suppose you deposit $4,000 at the end of year 1, nothing at the end of year 2, $900 at the end of year 3, and
Suppose you deposit $4,000 at the end of year 1, nothing at the end of year 2, $900 at the end of year 3, and $1,450 at the end of year 4. Assume that these amounts will be compounded at an annual rate of 11 percent.
Required:
How much will you have on deposit at the end of five years?
Future value = ??
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