Jimmy deposits $ 3,600 now, $ 2,500 3 years from now, and $ 5,800 6 years from now. Interest is 6% for the first 3 years and 7 % for the last 3 years. (Round your answers to the nearest whole dollar. The tolerance is +/- 4.00) a. How much money will be in the fund at the end of 6 years? $ b. What is the present worth of the fund? $ c. What is the uniform series equivalent of the fund (uniform cash flow at end of years 1-6)?
Jimmy deposits $ 3,600 now, $ 2,500 3 years from now, and $ 5,800 6 years from now. Interest is 6% for the first 3 years and 7 % for the last 3 years. (Round your answers to the nearest whole dollar. The tolerance is +/- 4.00) a. How much money will be in the fund at the end of 6 years? $ b. What is the present worth of the fund? $ c. What is the uniform series equivalent of the fund (uniform cash flow at end of years 1-6)?
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
Problem 1PS
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![Jimmy deposits $3,600 now, $ 2,500 3 years from now, and $ 5,800 6 years from now. Interest is 6 % for the first 3
years and 7 % for the last 3 years.
(Round your answers to the nearest whole dollar. The tolerance is +/- 4.00)
a. How much money will be in the fund at the end of 6 years?
$
b. What is the present worth of the fund?
$
c. What is the uniform series equivalent of the fund (uniform cash flow at end of years 1-6)?
69](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F0b0e2559-3b08-4de8-b570-8b980cb5e1a5%2F8cd67c6b-41f3-460d-aa6b-4d4aba9178d9%2Fp8tcd24_processed.png&w=3840&q=75)
Transcribed Image Text:Jimmy deposits $3,600 now, $ 2,500 3 years from now, and $ 5,800 6 years from now. Interest is 6 % for the first 3
years and 7 % for the last 3 years.
(Round your answers to the nearest whole dollar. The tolerance is +/- 4.00)
a. How much money will be in the fund at the end of 6 years?
$
b. What is the present worth of the fund?
$
c. What is the uniform series equivalent of the fund (uniform cash flow at end of years 1-6)?
69
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