Answer: $2,398.55
Explanation:
The deposit at the end of year one would have been compounded by 2 years at the end of year 3. The second year deposit would have compounded by 1 year and the third year deposit would not have compounded at all.
The future value at the end of 3 years is;
= (500 * ( 1 + 11%)²) + (750 * ( 1 + 11%)) + 950
= $2,398.55
The question might not be the exact same but you can use this as a reference.
