given a 3 percent interest rate compute the year 6 future va

given a 3 percent interest rate, compute the year 6 future value of deposits made in years 1,2,3, and 4 of $1850,$2050,$2050, and $2350.

Future Value = Sum of (Future value of each cash flows)

Future Value = Sum of (CFn x (1+Rate)^(n-Year)

n = 6

Now calculate FV or Future Value:

Future Value = 1850*(1+3%)^(6-1) + 2050*(1+3%)^(6-2) + 2050*(1+3%)^(6-3) + 2350*(1+3%)^(6-4)

Future Value = 1850*(1+3%)^5 + 2050*(1+3%)^4 + 2050*(1+3%)^3 + 2350*(1+3%)^2

Future Value = 9,185.16