Jimmy deposits $5,000 now, $2,800 3 years from now, and $5,200 6 years from now. Interest is 3% for the first 3 years and 11% fc the last 3 years. a. How much money will be in the fund at the end of 6 years? $ 18720 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)? 2214 13061
Jimmy deposits $5,000 now, $2,800 3 years from now, and $5,200 6 years from now. Interest is 3% for the first 3 years and 11% fc the last 3 years. a. How much money will be in the fund at the end of 6 years? $ 18720 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)? 2214 13061
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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Transcribed Image Text:Jimmy deposits $5,000 now, $2,800 3 years from now, and $5,200 6 years from now. Interest is 3% for the first 3 years and 11% for
the last 3 years.
Calculator
a. How much money will be in the fund at the end of 6 years?
$
18720
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)?
13061
2214
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