William Brown invests $7,396.61 now for a series of $1,600 annual returns beginning one year from now. William will earn...
William Brown invests $7,396.61 now for a series of $1,600 annual returns beginning one year from now. William will earn a return of 8% on the initial investment.
Click here to view the factor table.
(For calculation purposes, use 5 decimal places as displayed in the factor table provided.)
How many annual payments of $1,600 will William receive? (Hint: Use Table 4.) (Round answer to 0 decimal places, e.g. 25.)
Number of annual payments
Homework Answers
Number of annual payments are calculated using the NPER function:-
=NPER(8%,1600,-7396.62)
=6.00
Add Answer to:
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(For calculation purposes, use 5 decimal places as
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Click here to view the factor table.
(For calculation purposes, use 5 decimal places as
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Click if you would like to
Show Work for this...
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