Question 1068959
as best i can determine, you will have $10,832.67 at the end of 2 years, which is at the end of 24 months.


your total investment is 2000 + 24 * 350 = $10,400.


the rest is interest.


you can use time value of money formulas or you can use future value of cash flow formulas to get this answer.


the brute force method is to find the future value of each of the monthly values and then add them up.


for example:


future value of 2000 for 24 months is 2000 * (1 + .035/12) ^ 24
future value of 350 for 23 months is 350 * (1 + .035/12) ^ 23
future value of 350 for 22 months is 350 * (1 + .035/12) ^ 22
etc.....


then you add them up and you will get a future value of $10,832.67.


if you use time value of money formulas, you would find the future value of 2000 for 24 months and then you would find the future value of monthly payments of 350 at the end of each month for 24 months.


i used an online financial calculator and this is what i got.


the online financial calculator can be found at:
http://arachnoid.com/finance/


these are my results.


future value of 2000 = 2144.80
future value of 350 monthly payments = 8687.87
total future value = 10832.67


first picture is future value of 2000.
second picture is future value of monthly payments of 350.
you're looking for future value in both pictures.


<img src = "http://theo.x10hosting.com/2017/021801.jpg" alt = "$$$" </>


<img src = "http://theo.x10hosting.com/2017/021802.jpg" alt = "$$$" </>