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You will invest the following cash flows into an investment account on the following dates. TIME CASH FLOWS -------------------------------------------------------------- 1/1/23 +$6500 1/1/24 +$6500 1/1/25 +$6500
You will invest the following cash flows into an investment account on the following dates.
TIME CASH FLOWS --------------------------------------------------------------
1/1/23 +$6500
1/1/24 +$6500
1/1/25 +$6500
1/1/26 +$6500
1/1/27 +$6500
Assume an interest rate of 10%, compounded annually. (The stated rate is 10%, compounded annually.) How much will you have in your account on 1/1/27 the instant after you make that last investment of $6500 on 1/1/27?
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