Question

n A&E firm planning for a future expansion deposited $44,000 each year for 5 years into a sinking (investment) fund that was to pay an unknown rate of return. If the account had a total of $457,000 immediately after the fifth deposit, what rate of return did the company make on these deposits? The rate of return that the company made was 7%

0 0
Add a comment Improve this question Transcribed image text
Know the answer?
Add Answer to:
n A&E firm planning for a future expansion deposited $44,000 each year for 5 years into...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
  • An A&E firm planning for a future expansion deposited $30,000 each year for 5 years into...

    An A&E firm planning for a future expansion deposited $30,000 each year for 5 years into a sinking (investment) fund that was to pay an unknown rate of return. If the account had a total of $450,000 immediately after the fifth deposit, what rate of return did the company make on these deposits? The rate of return that the company made was ____%.

  • An A&E firm planning for a future expansion deposited $40,000 each year for 5 years into...

    An A&E firm planning for a future expansion deposited $40,000 each year for 5 years into a sinking (investment) fund that was to pay an unknown rate of return. If the account had a total of $451,000 immediately after the fifth deposit, what rate of return did the company make on these deposits? The rate of return that the company made was %

  • An A&E firm planning for a future expansion deposited $38,000 each year for 5 years into...

    An A&E firm planning for a future expansion deposited $38,000 each year for 5 years into a sinking investment fund that was to pay an unknown rate of return. If the account had a total of $455,000 immediately after the fifth deposit, what rate of return did the company make on these deposits? 30.11 The rate of return that the company made was [ 1%

  • please I want only the answer without the solution please An ASE form planning for a...

    please I want only the answer without the solution please An ASE form planning for a future expansion deposited $30.000 each year for 5 years into a sinking investment fund that was to pay an unknown rate of return the account had a total of $450.000 immediately after the fifth deposit what rate of retum did the company make on these deposits? The rate of return that the company made was

  • 6,7 pls 6. A person deposits $1,000 in an account each year for five years beginning...

    6,7 pls 6. A person deposits $1,000 in an account each year for five years beginning at the end of year 1). At the end of the fifth year (immediately after the deposit), one half of the account balance is withdrawn. $2,000 is deposited annually for five more years (starting at the end of year 6), and the total balance is withdrawn at the end of the 15th year. There are no additional deposits made in years 11 - 15....

  • answers only please How much must be deposited at the beginning of each year an account...

    answers only please How much must be deposited at the beginning of each year an account that pays 7%, compounded annually so that the account will contain $32,000 at the end of 5 years? (Round your answer to the nearest cent) $ Need Help? What is the size of the payments that be deposited at the beginning of each 6-month period in an account that pays 5.2%, compounded semiannually, so that the account will have a future value of $140,000...

  • 1. Your grandmother has invested $4000 in a mutual fund each year on your birthday (she...

    1. Your grandmother has invested $4000 in a mutual fund each year on your birthday (she made her first payment when you turned 1 year old). The mutual fund has grown at an annual interest rate of 6.8%. How much is your account worth on the day of your 21st birthday immediately after your grandmother’s deposit? answer: 2. You set up a college fund in which you pay $4000 each year at the beginning of the year. How much money...

  • What is the future value of $8,650 at the end of 7 periods at 8% compounded...

    What is the future value of $8,650 at the end of 7 periods at 8% compounded interest? (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to 0 decimal places, e.g. 458,581.) The future value $ Click here to view factor tables What is the present value of $8,650 due 8 periods hence, discounted at 6%? (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to 0 decimal places, e.g. 458,581.) The present value...

  • 23. What is the future value at the end of year 28 of depositing $5,000 today, $3,500 at the end of years 1, 2 and 3, $...

    23. What is the future value at the end of year 28 of depositing $5,000 today, $3,500 at the end of years 1, 2 and 3, $5,000 at the end of years 4, 5, 6 and 7 and $4,250 at the end of years 8, 9, 10, 11 and 12 into an account that pays 9.5% p.a.? (No deposits will be made into the account after year 12). 24. If you wanted to fund a scholarship that would pay $12,500...

  • 16. Suppose $15,000 is invested at an annual rate of 5% for 12 years. Find the...

    16. Suppose $15,000 is invested at an annual rate of 5% for 12 years. Find the compounded amount interest is compounded as follows. a.) Annually b.) Semiannually c.) Quarterly d.) Monthly 17. Find the present value of each compounded amount: a.) $42000 in 7 years, 6% compounded monthly. b) $17,650 in 4 years, 4% compounded quarterly. c.) S 1347.89 in 3 years, 5.5% compounded semiannually. 18. Find the future value of each annuity. a.) S 1288 deposited at the end...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT