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You recently invested $18,000 of your savings in a security issued by a large company. The security agreement pays you 6 percent per year and has a maturity three years from the day you purchased it. What is the total cash flow you expect to receive from this investment over the next three years?

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TomShelby

Answer:

At the end of the three years period, the amount to recieve will be for $7,146.1

Explanation:

18,000 savings at 6% during three years.

we will calcualte the future value of a lump sum:

[tex]Principal \: (1+ r)^{time} = Amount[/tex]

Principal 6,000.00

time 3.00

rate 0.06000

[tex]6000 \: (1+ 0.06)^{3} = Amount[/tex]

Amount 7,146.10

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