Date

Actual Cash Flow

Modified Cash Flow

Future Value Reinvested
at 10.0000%

1 Jan 2010  ($100,000.00)  Not Modified  
1 Jan 2011  20,000.00  Compounded forward 4 years by 10%  29,289.65 
1 Jan 2012  20,000.00  Compounded forward 3 years by 10%  26,626.95 
1 Jan 2013  20,000.00  Compounded forward 2 years by 10%  24,200.00 
1 Jan 2014  20,000.00  Compounded forward 1 years by 10%  22,000.00 
1 Jan 2015  20,000.00  Not modified, received at end of investment  20,000.00 
TOTALS  $0.00  The actual investment only returned the same amount invested over five years. The Future Value is the total of all the positive cash flows reinvested at the Reinvestment Rate.  $122,116.60 