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Date Posted: 16:08:15 09/30/01 Sun
Author: Dr. DaDAlt
Subject: a few errors - TVM Assignment Fall 2002 (#s 16 and 17)
In reply to: Kymberly Jamison 's message, "TVM Assignment Fall 2002" on 15:21:54 09/30/01 Sun

Kymberly:

Sorry about that - I made a few errors transcribing. The correct answer for for 16 and 17 are $1,156.99 and 49,539.51
(the answer for #17 can vary by $5 or so either way, depending on rounding).

>For numbers 16 and 17. I have gotten different
>answers and no matter how I work them I keep getting
>the wrong answers.
>
>16. John recently invested $2,566,70 ina project
>promising a return of 12% per year. The cash flows
>are as follows: Year 1: 325, Year 2: 400, Year 3: 550,
>Year 4: ?, Year 5: 750, and Year 6: 800. What cash
>flow at the end of Year 4?
>I keep getting $1,156. 99. However, the answer sheet
>says $2,881.76.
>
>17. Steven just deposited 10,000 in a bank whoch pays
>12% and it is compunded monthly. Steven also plans to
>contruibute another 10,000 to the account one year
>from now and another 20,000 two years from now. How
>much will be in the account in 3 years? I keep
>getting 49,539.51. The answer sheet says 56,056.57.
>
>PLEASE HELP!!!!

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