Homework Answers
Future value = (1 + r) * Annuity * [(1 + r)n - 1] / r
Future value = (1 + 0.1) * 1000 * [(1 + 0.1)3 - 1] / 0.1
Future value = 1.1 * 1000 * 3.31
Future value = $3,641
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