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$1,200 Is Received at the Beginning of Year 1, $2,200

Question 3

Multiple Choice

$1,200 is received at the beginning of year 1, $2,200 is received at the beginning of year 2, and$3,300 is received at the beginning of year 3. If these cash flows are deposited at 12 percent, theircombined future value at the end of year 3 is ________ .


A) $ 6,700
B) $ 8,141
C) $17,000
D) $12,510

Correct Answer:

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