Answer:
$734,730.52
Explanation:
We know that
Future value = Present value × (1 + rate)^number of years
So for first year, the future value is
= $133,245 × (1 + 9.4%)^3
= $133,245 × 1.309338584
= $174,462.82
For second year, the future value is
= $152,709 × (1 + 9.4%)^2
= $152,709 × 1.196836
= $182,767.63
For third year, the future value is
= $161,554 × (1 + 9.4%)^1
= $161,554 × 1.094
= $176,740.08
For fourth year, the future value is
= $200,760 × (1 + 9.4%)^0
= $200,760 × 1
= $200,760
Total value is
= $174,462.82 + $182,767.63 + $176,740.08 + $200,760
= $734,730.52
