Joseph Moore plans to invest $22,800 a year at the end of each year for the...
Joseph Moore plans to invest $22,800 a year at the end of each year for the next seven years in an investment that will pay him a rate of return of 11.4 percent. How much money will Joseph have at the end of seven years? (Round factor values to 4 decimal places, e.g. 1.2514 and final answer to 2 decimal places, e.g. 15.25.)
| Future value of investment | $ |
Homework Answers
Future value of annuity=Annuity[(1+rate)^time period-1]/rate
=22800[(1.114)^7-1]/0.114
=22800*9.9044
=$225820.32(Approx).
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Please label and bold the answers. Thanks so much I will make sure to leave you...
Please label and bold
the answers. Thanks so much I will make sure to leave you
a thumbs up and this is my last question I can post this month.
This is due at 3 so please help me. I would really appreciate it
thanks so much!!!!!!!!
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Please label and bold
the answers. Thanks so much I will make sure to leave you
a thumbs up and this is my last question I can post this month.
This is due at 3 so please help me. I would really appreciate it
thanks so much!!!!!!!!
Problem 6.01 Sheridan, Inc., management expects the company to earn cash flows of $12,300, $16,400, $17,900, and $19,200 over the next four years. If the company uses an 7 percent discount rate, what...
Problem 6.10 Jennifer Davis is a sales executive at a Baltimore firm. She is 25 years old and plans to invest $2,300 every year in an IRA account, beginning at the end of this year until she reaches the age of 65. If the IRA investment will earn 11.10 percent annually, how much will she have in 40 years, when she turns 65? (Round factor values to 4 decimal places, e.g. 1.5212 and final answer to 2 decimal places, e.g....
Problem 7.15 Marshall Company is issuing eight-year bonds with a coupon rate of 6.50 percent and semiannual coupon payments. If the current market rate for similar bonds is 9.31 percent. What will be the bond price? (Round intermediate calculations to 4 decimal places, e.g. 1.2514 and bond price to 2 decimal places, e.g. 15.25.) Bond price If company management wants to raise $1.25 million, how many bonds does the firm have to sell? (Round intermediate calculations to 4 decimal places,...
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