Homework Answers
| $ 1213959 |
Working:
| Future Value of Investment | = | Present Value of Investment x Future Value of Investment of 1 | |||||||
| = | $ 8,60,000 | x | 1.41158 | ||||||
| = | $ 12,13,959 | ||||||||
| Working: | |||||||||
| Future Value of Investment of 1 | = | (1+i)^n | Where, | ||||||
| = | (1+0.09)^4 | i | 9% | ||||||
| = | 1.41158 | n | 4 | ||||||
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