Miller's Hardware plans on saving $42,000,$54,000,and $58,000 at the end of each year for the next three years,respectively.How much will the firm have saved at the end of the three years if it can earn 4.5% on its savings?
A) $160,295.05
B) $158,098.15
C) $167,508.33
D) $165,212.57

Question

Quizplus · Accepted Answer

FV = ($42,000 × 1.045²) + ($54,000 × 1.045) + $58,000FV = $160,295.05

Miller's Hardware Plans on Saving $42,000,$54,000,and $58,000 at the End