rtomas9559 rtomas9559

22-02-2020
Business

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Suppose you deposit $116 today, $135 in one year, and $885 in two years in an account that pays an annual rate of interest of 14.1%. How much money will be in the account after three years?

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kaympoey08 kaympoey08

22-02-2020

Answer:

The answer is $1357.85

Explanation:

Future value= Σ C(1+i)^n

FV = 116(1.141^3) + 135( 1.141^2) + 885(1.141) = $1357.85

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