Question
You have just purchased an investment that generates the cash flows shown below for the next four years. You are able reinvest these cash flows
You have just purchased an investment that generates the cash flows shown below for the next four years. You are able reinvest these cash flows at 8.32 percent, compounded annually. How much is this investment worth at the end of year four?
End of year
- $421
- $1,094
- $354
- $144
Round the answer to two decimal places.
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Foundations of Financial Management
Authors: Stanley Block, Geoffrey Hirt, Bartley Danielsen, Doug Short, Michael Perretta
10th Canadian edition
1259261018, 1259261015, 978-1259024979
