Question
You have just taken over for an finance manager who has left for another company. The previous manager was not great at record keeping. The
You have just taken over for an finance manager who has left for another company. The previous manager was not great at record keeping. The company was able to reconstruct the cash flow from some of the records.
| Year | Cash Flow |
| Initial Deposit, year 0 | 10,000 deposit |
| 2 | $2,000 withdrawal |
| 3 | $4,000 deposit |
| 3 | $2,000 withdrawal |
| 4 | ? |
| Amount in the account at the end of year 5 | $11,000 |
The account pays a nominal annual interest rate of 3%. What transaction occurred in year 4 and in what amount?
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QFinance The Ultimate Resource
Authors: Various Authors
1st Edition
1849300003, 978-1849300001
