Rita plans to save $1,500,$1,500,and $2,500 a year over the next 3 years,respectively.How much would you need to deposit in one lump sum today to have the same amount as Rita 3 years from now if you both earn 3.5 percent,compounded annually?

Question

Quizplus · Accepted Answer

PV = $1,500 / 1.035 + $1,500 / 1.035² + $2,500 / 1.035³ = $5,104.40 11ea6c22_9306_dded_9716_0d8de4062ef3_TB1200_00

Rita Plans to Save $1,500,$1,500,and $2,500 a Year Over the Next