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

question 57

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, their combined future value at the end of year 3 is ________.

• A) $ 6,700
• B) $17,072
• C) $12,510
• D) $ 8,142

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Definitions:

Direct Quotation

A direct quotation is a report of the exact words of an author or speaker, often enclosed in quotation marks.

New Friends

The beginning stages of friendship with individuals whom one has recently met or connected with.

Amish

A group of traditionalist Christian church fellowships, known for simple living, plain dress, and reluctance to adopt modern technology.

Contradiction

A situation where two or more statements, ideas, or actions oppose each other, making it impossible for all of them to be true or valid at the same time.