Use the following timeline to answer the question(s)below.
0 1 2 3
$600 $1200 $1800
-At an annual interest rate of 7%,the future value of this timeline in year 3 is closest to:
A)$3295
B)$3600
C)$3770
D)$4035

Name: Use the following timeline to answer the question(s)below. 0 1 2 3 $600 $1200 $1800 -At an annual interest rate of 7%,the future value of this timeline in year 3 is closest to: A)$3295 B)$3600 C)$3770 D)$4035
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Question

Quizplus · Accepted Answer

C)FV = PV(1 + i)^N = $600(1.07)² + 1200(1.07)¹ + 1800 = 3770.94

Use the Following Timeline to Answer the Question(s)below