Stephanie Watson plans to make the following investments beginning next year. She will invest $2,886 in each of the next three years and will then make investments of $3,650, $3,725, $3,875, and $4,000 over the following four years. If the investments are expected to earn 12.8 percent annually, how much will Stephanie have at the end of the seven years? (Round answer to 2 decimal places, e.g. 15.25.) Future value $ ________________
Stephanie Watson plans to make the following investments beginning next year. She will invest $2,886 in each of the next three years and will then make investments of $3,650, $3,725, $3,875, and $4,000 over the following four years. If the investments are expected to earn 12.8 percent annually, how much will Stephanie have at the end of the seven years? (Round answer to 2 decimal places, e.g. 15.25.) Future value $ ________________
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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Stephanie Watson plans to make the following investments beginning next year. She will invest $2,886 in each of the next three years and will then make investments of $3,650, $3,725, $3,875, and $4,000 over the following four years. If the investments are expected to earn 12.8 percent annually, how much will Stephanie have at the end of the seven years? (Round answer to 2 decimal places, e.g. 15.25.)
$
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