If you deposit $1000 in one year, $2000 in two years, and $3000 in three years, how much will you have in three years? Assume a 7 percent annum interest rate.
If you deposit $1000 in one year, $2000 in two years, and $3000 in three years, how much will you have in three years? Assume a 7 percent annum interest rate.
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
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4. If you deposit $1000 in one year, $2000 in two years, and $3000 in three
years, how much will you have in three years? Assume a 7 percent annum interest
rate.
Expert Solution
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Concept:
Future value (FV) is the value of an investment or cash flow at a specific point in the future, based on a specified interest rate or rate of return. It represents the total amount of money that an investment will grow to over time, assuming that all cash flows are reinvested at the same rate of return.
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Hi can you show how to input in excel using the fv formula and
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