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Your aunt is a songwriter and will receive three royalty payments because of a hit song she wrote. She will receive $35,567 at the end
Your aunt is a songwriter and will receive three royalty payments because of a hit song she wrote. She will receive
$35,567
at the end of this year,
$71,134
at the end of next year, and
$106,701
at the end of the year after that (three years from today). If the interest rate is
14.6%
per year, what is the future value of your aunt's royalty payments in three years (immediatley after the last payment)?
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