Homework Answers
a) Present value of a future amount:-
=PV(rate,nper,pmt,fv)
=PV(10%,8,,29400)
=13715.32
b) Present value of annuity:-
=PV(5%,10,29400)
=227019.01
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round to 5 placesss
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Brief Exercise G-1 Jozy Altidore invested $7,500 at 8% annual interest, and left the money invested without withdrawing any of the interest for 11 years. At the end of the 11 years, Jozy withdrew the accumulated amount of money. Click here to view the factor table (For calculation purposes, use 5 decimal places as displayed in the factor table provided.) (a) What amount did Jozy withdraw, assuming the investment earns simple interest? Accumulated amount (b) What amount did Jozy withdraw,...
Your answer is incorrect Click here to view factor tables What is the future value of 20 periodic payments of $5,160 euch macle at the beginning of each period and compounded at 8%? [Round factor values to 5 decimal places, es The futurn value $ e Textbook and Medis Your answer is incorrect Click here to view factor tables What is the present value of $2,900 to be received at the beginning of each of 29 periods, discounted at 5%...
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