ExemplarPart A

t = 1: 15,000(1.03) 5,150V � �

t = 2: 25,000(1.03) 5,304.50V � �

t = 3: 35,000(1.03) 5,463.64V � �

t = 4: 45,000(1.03) 5,627.54V � �

Part B

1 01.03 1.03(5,000) 5,150V V� � �

2 11.03 1.03(5,150) 5,304.50V V� � �

3 21.03 1.03(5,304.50) 5,463.64V V� � �

4 31.03 1.03(5,463.64) 5,627.55V V� � �

The slight difference in total values results from rounding to hundredths place (cents) before the next computation is done.