Joey Is Planning to Invest His Savings in a Fixed

question 17

Multiple Choice

Joey is planning to invest his savings in a fixed income fund. He manages to deposit $700 at the end of the first year, $500 at the end of the second year, $300 at the end of the third year, and $600 at the end of the fourth year. If the fund earns 6 percent interest each year, the terminal (future) value of this uneven cash flow stream at the end of Year 4 is _____. 

• A)$2,314
• B)$1,833
• C)$2,097
• D)$2,355
• E)$1,784

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