Brittany who is the CFO of Lang Golf Course Design Inc. has just invested $20,000 for...
Brittany who is the CFO of Lang Golf Course Design Inc. has just invested $20,000 for her daughter who is seven years old. The money will be used for her daughter's education 10 years from now. She calculates that she will need $70,000 for her daughter's education by the time the girl goes to school. What rate of return will Brittany need to achieve this goal?
Select one: A. between 12% and 13% B. between 13% and 14% C. between 14% and 15% D. between 15% and 16%
Homework Answers
rate positively ..
| We have to use financial calculator to solve this | ||||
| put in calculator - | ||||
| PV | -20000 | |||
| FV | 70000 | |||
| PMT | 0 | |||
| N | 10 | |||
| Compute I | 13.35% | |||
| Therefore answer is option :B. between 13% and 14% | ||||
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Brittany who is the CFO of Lang Golf Course Design Inc. has just
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Brittany who is the CFO of Lang Golf Course Design Inc has just invested $20,000 for her daughter who is seven years old. The money will be used for her daughter's education 10 years from now. She calculates that she will need 570,000 for her daughter's education by the time the girl goes to school. What rate of return will Brittany need to achieve this goal? Select one: O A. between 12% and 13% OB. between 13% and 14% OC...
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Reba Dixon is a fifth-grade school teacher who earned a salary
of $38,000 in 2019. She is 45 years old and has been divorced for
four years. She receives $1,200 of alimony payments each month from
her former husband (divorced in 2016). Reba also rents out a small
apartment building. This year Reba received $50,000 of rental
payments from tenants and she incurred $19,500 of expenses
associated with the rental.
Reba and her daughter Heather (20 years old at the...
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