Troy will receive $7,500 at the end of Year 2. At the end of the following two years, he will receive $9,000 and $12,500, respectively. What is the future value of these cash flows at the end of Year 6 if the interest rate is 8 percent

$36,121.08

Explanation:

The future value of these cash flows is determined by applying each of the cash flows to the future value formula:

FV=PV*(1+r)^n

PV=Present value

r=rate =8%

n=number of years.

It is notable that the cash flow obtained at the end of year 2 can only be accumulated for 4 years, the cash flow received in year 3 can only be invested for 3 years and the cash flow received at the end of year 4 can only be invested for 2 years.

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