Given a 10% interest rate, compute the year 9 future value if deposits of $10,000 and $20,000 are made in years 1 and 5 respectively, and a withdrawal of $5,000 is made in year 7.
A) $44,667.89
B) $45,103.47
C) $46,585.66
D) $47,002.89

Question

Quizplus · Accepted Answer

The correct answer is A because the future value of the deposits and withdrawal at the end of year 9 is $44,667.89.

Given a 10% Interest Rate, Compute the Year 9 Future