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Introduction: corporate finance

More Details: You want to buy a new sports car 3 years from now, and you plan to save $4,200 per year, beginning one year from today. You will deposit your savings in an account

that pays 5.2% interest. How much will you have just after you make the 3rd deposit, 3 years from now?

Answer

$11,973

$12,603

$13,267

$13,930

$14,626

More Details: You want to buy a new sports car 3 years from now, and you plan to save $4,200 per year, beginning one year from today. You will deposit your savings in an account

that pays 5.2% interest. How much will you have just after you make the 3rd deposit, 3 years from now?

Answer

$11,973

$12,603

$13,267

$13,930

$14,626

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