Determine the future value


Question: Carlos Menendez is planning to invest 3,500 dollar each year for the next 6 years in an investment paying twelve percent yearly. Determine the amount he will have at the end of the 6 years? [Give your answer to the nearest dollar]

[A]   $24,670

[B]   $26,124

[C]   $21,000

[D]   $28,403

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Finance Basics: Determine the future value
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