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What is the present value of $1818 received at the end of 7 years if it was invested at 7.72% APR? You plan to deposit
What is the present value of $1818 received at the end of 7 years if it was invested at 7.72% APR? You plan to deposit amounts as shown at the beginning of this year, and at the beginning of every year until five year from now, into a bank which will give you annual interest. The following table shows your deposits and timing. The interest rate is at the top of the table: 9.98% Interest Years to wait 0 1 2 3 4 5 Cash flow 1,069 1,498 1,503 1,977 2,168 What will be your bank balance at the end of the fifth year
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