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6 October, 15:04

In an attempt to have funds for a down payment in four years, James Dupont plans to save $3,950 a year for the next four years. With an interest rate of 5 percent, what amount will James have available for a down payment after the four years? Use Exhibit 1-B. (Round FVA factor to 3 decimal places and final answer to 2 decimal places.)

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  1. 6 October, 15:23
    0
    21826,24

    Explanation:

    3950

    5%

    5 años

    3950 1,05 0 3950 1,00 3950

    3950 1,05 1 3950 1,05 4147,5

    3950 1,05 2 3950 1,10 4354,875

    3950 1,05 3 3950 1,16 4572,61875

    3950 1,05 4 3950 1,22 4801,249688

    21826,24344

    FVOrdinary Annuity =C * (1+i) n-1/i

    FV 3950 * (1,05) >n-1/0,05

    FV 3950 * (1,27628156-1) / 0,05 1,05 5 1,276281563

    FV 21826,24324
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