You expect to receive bonuses with your job each year for the next five years. Assume you
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Question:
You expect to receive bonuses with your job each year for the next five years. Assume you can invest all of your bonuses at 4.5%, and the bonuses are as shown, match each amount to its future value at the end of the five years, then match the total to the appropriate box.
Year 1: $500
Year 2: $1,200
Year 3: $1,000
Year 4: $2,400
Year 5: $2,200
596.26; 1,369.40; 1,092.03; 2,508.00; 2,200.00; 7,765.68
When i am calculating with a financial calculator, i am getting a different answer.
I am getting the following answers:
fv $522.50 , $1,310.43 , $1,141.17, $2,862.04, $2,741.60
I used the fv function in excel. Please explain the working of this question.
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