user/attempt/quiz start frame.d21ou 8352578sprv&drc-08qi 577207&cfql-08dnb-0 sea

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user/attempt/quiz start frame.d21ou 8352578sprv&drc-08qi 577207&cfql-08dnb-0 search Quizzes PERSONAL FINA XD Week 2 Homework-ACCOUN Summ..P Pages -Enterprise ServiceDocuments for Director S... Active Recruitments- H.o.. AIS PosMasted07S0- Alle ERSONAL FINANCIAL PLANNING Discussions Dropbox Quizzes Checklist Grades More Tools, Resources Tenisha Foy: Attempt 1 Question 3 (I point) E What amount would you have if you deposited $3100 a year for 5 years at 7 percent (compounded annually)? Use the appropriate Time Value of Money table [Exhibit 1-A, Exhibit 1-B, Exhibit 1-C, OR Exhibit 1-D (Round your answer to the nearest whole number. Do not include the comma, period, and "$" sign in your response.) Your Answer 4347 Answer Save

Explanation / Answer

Amount deposited every year = 31,000
Time = 5 years
Rate = 7% compunded annually
FV = PMT * (( 1+r)n-1)/r = 31,000 * ((1+7%)5-1)/7% = 178273

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