Question

What is the future value at the end of year 40 of depositing $15,000 today, $3,500 at the end of years 1, 2 and 3, $5,000 at the end of years 4, 5, 6 and 7 and $4,250 at the end of years 8, 9, 10, 11 and 12 into an account that pays 9.5% p.a.? (No deposits will be made into the account after year 12).

Answer 1

Year	Deposit	balance years	[email protected]%	Future value
0	15000	40	37.7194	565791
1	3500	39	34.4469	120564
2	3500	38	31.4584	110104
3	3500	37	28.7291	100552
4	5000	36	26.2366	131183
5	5000	35	23.9604	119802
6	5000	34	21.8816	109408
7	5000	33	19.9832	99916
8	4250	32	18.2495	77561
9	4250	31	16.6662	70832
10	4250	30	15.2203	64686
11	4250	29	13.8998	59074
12	4250	28	12.6939	53949
Future Value	1683423

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