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You decided to invest $2000 every year for the next three years, first payment is made today, total number of payments is 3. You plan
You decided to invest $2000 every year for the next three years, first payment is made today, total number of payments is 3. You plan to leave the money in the account for five years (to let it accumulate). What will be the future value of the money at the end of the fifth year, that is, how money will you have in the account at the end of the fifth year? The account pays 12%, compounded annually. $6,748.80 $7,465.69 $8,465.69 $9,481.58 $10,191.84
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