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FV of uneven cash flow You want to buy a house...

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FV of uneven cash flow You want to buy a house within 3 years, and you are currently saving for the down payment. You plan to save $8,000 at the end of the first year, and you anticipate that your annual savings will increase by 20% annually thereafter. Your expected annual return is 6%. How much would you have for a down payment at the end of Year 3? Round your answer to two decimal places.

 

Paper#13656 | Written in 18-Jul-2015

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