Problems 6. Determine the future value at the end of June for the following cash

Question

Problems 6. Determine the future value at the end of June for the following cash flows using a periodic interest rate of 1% compounded monthly. These cash flows occur at the end of the respective months. i = 1% compounded monthly MONTH December January February March April May June Periods 6 5 4 3 2 1 Amounts $15,000 $22,000 $28,000 $35,000 $30,000 $15,000 FV Total FV Problems 6. Determine the future value at the end of June for the following cash flows using a periodic interest rate of 1% compounded monthly. These cash flows occur at the end of the respective months. i = 1% compounded monthly MONTH December January February March April May June Periods 6 5 4 3 2 1 Amounts $15,000 $22,000 $28,000 $35,000 $30,000 $15,000 FV Total FV

Explanation / Answer

MONTH December January February March April May June Periods 6 5 4 3 2 1 Amounts $15,000 $22,000 $28,000 $35,000 $30,000 $15,000 Future value factor 1.0615 1.0510 1.0406 1.0303 1.0201 1.01 FV 15,922.80 23,122.22 29,136.91 36,060.54 30,603.00 15,150.00 Total FV 1,49,995.47

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