Question 1090632
If $1,000 is invested now, $1,500 two years from now, and $2,000 four years from not at an interest rate 6% compounded annually, what will be the total amount in 10 years?
<pre>$1,000 invested today for 10 years at 6%, compounded annually, is: {{{matrix(1,5, "1,000"(1 + .06/1)^(10 * 1), "=", "1,000"(1.06)^10, "=", "$1,790.85")}}}
$1,500 invested 2 years from now, for 8 years thereafter, at 6%, compounded annually, is: {{{matrix(1,3, "1,500"(1 + .06/1)^(8 * 1), "=", "$2,390.77")}}}
$2,000 invested 4 years from now, for 6 years thereafter, at 6%, compounded annually is, {{{matrix(1,3, "2,000"(1 + .06/1)^(6 * 1), "=", "$2,837.04")}}}
At 6% annually-compounded interest, $1,000, invested today, for 10 years, $1,500, invested 2 years from now, for 8 years
into the future from then, and $2,000, invested 4 years from now, for 6 years into the future from then, will accumulate to:
                    $1,790.85
                     2,390.77 
                     <u>2,837.04</u>
                   <font color = red><font size = 4><b>$7,018.66</font></font></b></pre>