You expect to receive $1,000 at the end of each of the next three years that you plan to deposit in a bank account paying 6%. Which of the following expressions will calculate your bank balance just after the last payment is deposited?
A) FV = $1,000 [FVF6,1] + $1,000 [FVF6,2] + $1,000 [FVF6,3]
B) FV = $1,000 [1.06]1 + $1,000 [1.06]2 + $1,000 [1.06]3
C) FVA3 = $1,000 [FVFA6,3]
D) All of the above
Correct Answer:
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