You invest $ 2,500 a year for three years at 8 percent.
Foundations of Financial Management (Book: 12 edition by Stanley B. Block and Geoffrey A. Hirt) Chapter 9 pg 276-277.
Future Value Problem
You invest $ 2,500 a year for three years at 8 percent.
a. What is the value of your investment after one year? Multiply $2,500 x 1.08.
b. What is the value of your investment after two years? Multiply your answer to part (a) by 1.08.
c. What is the value of you investment after three years? Multiply your answer to part (b) by 1.08.
This gives your final answer.
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