ZuoTi.Pro
Question

The Nashville Geetars, a professional foosball team, has just signed its star player Harold The Wrist Thornton to a new cont
business   finance   
0 0
Add a comment Improve this question Transcribed image text
Next > < Previous
Sort answers by oldest

Homework Answers

Answer #1

Future value of annuity=Annuity[(1+rate)^time period-1]/rate

13,330,000=Annuity[1.0508)^11-1]/0.0508

13,330,000=Annuity*14.2663064

Annuity=13,330,000/14.2663064

=$934369.39(Approx).

0 0
Add a comment
Know the answer?
Add Answer to:
The Nashville Geetars, a professional foosball team, has just signed its star player Harold "The Wrist...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

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

  • The Nashville Geetars, a professional foosball team, has just signed its star player Harold "The Wrist" Thornton to a ne...

    The Nashville Geetars, a professional foosball team, has just signed its star player Harold "The Wrist" Thornton to a new contract. One of the terms requires the team to make a lump sum payment of $13.57 million to the The Wrist exactly 11 years from today. The team plans to make equal annual deposits into an account that will earn 5.44 percent in order to fund the payment. How much must the team deposit each year?

  • The Nashville Geetars , a professional foosball team , has just signed its star player Harold...

    The Nashville Geetars , a professional foosball team , has just signed its star player Harold "The Wrist" Thornton to a new contract. One of the terms requires the team to make a lump sum payment of $13.31 million to the The Wrist exactly 10 years from today . The team plans to make equal annual deposits into an account that will earn 5.05 percent in order to fund the payment. How much must the team deposit each year?

  • The Nashville Geetars, a professional foosball team, has just signed its star player Harold "The Wrist"...

    The Nashville Geetars, a professional foosball team, has just signed its star player Harold "The Wrist" Thornton to a new contract. One of the terms requires the team to make a lump sum payment of $13.19 million to the The Wrist exactly 10 years from today. The team plans to make equal annual deposits into an account that will earn 4.87 percent in order to fund the payment. How much must the team deposit each year? You have just leased...

  • help please 13 The Nashville Geets, a professional foosball team has just signed its star player...

    help please 13 The Nashville Geets, a professional foosball team has just signed its star player Harold "The Wrist Thomton to a new contract. One of the terms requires the team to make a lump sum payment of $13.49 million to the The Wrist exactly 13 years from today. The team plans to make equal annual deposits into an account that will earn 532 percent in order to fund the payment. How much must the team deposit each year? Multiple...

  • please help There is a zero coupon bond that sells for $436.64 and has a par...

    please help There is a zero coupon bond that sells for $436.64 and has a par value of $1,000. If the bond has 13 years to maturity, what is the yield to maturity? Assume semiannual compounding Ο Ο Ο Ο Ο Ο The Nashville Geetars, a professional foosball team, has just signed its star player Harold "The Wrist Thornton to a new contract. One of the terms requires the team to make a lump sum payment of $13.49 million to...

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