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Mr. Denfine has just borrowed $1000 from Mr. Black. Mr. Denfine agreed to pay Mr. Black $300 in one week, $400 in two weeks, and $500 in three weeks. If the interest rate is 1% per week, what is the future value of this payment flow in 3 weeks? OPTIONS: 1210.03 1222.13 1178.34

Mr. Denfine has just borrowed $1000 from Mr. Black. Mr. Denfine agreed to pay Mr. Black $300 in one week, $400 in two weeks, and $500 in three weeks. If the interest rate is 1% per week, what is the future value of this payment flow in 3 weeks? OPTIONS: 1210.03 1222.13 1178.34

Essentials Of Investments
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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Mr. Denfine has just borrowed $1000 from Mr. Black. Mr. Denfine agreed to pay Mr. Black $300 in one week, $400 in two weeks, and $500 in three weeks. If the interest rate is 1% per week, what is the future value of this payment flow in 3 weeks? OPTIONS: 1210.03 1222.13 1178.34
Transcribed Image Text:Mr. Denfine has just borrowed $1000 from Mr. Black. Mr. Denfine agreed to pay Mr. Black $300 in one week, $400 in two weeks, and $500 in three weeks. If the interest rate is 1% per week, what is the future value of this payment flow in 3 weeks? OPTIONS: 1210.03 1222.13 1178.34
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