Homework Answers
(a) Simple interest = $7,100 X 7% = $497
For 12 years the interest is $497 X 12 = $5,964
Accumulated amount = $7,100 + $5,964 = $13,064
(b) The future value factor at 7% for 12 years is 2.25219
Accumulated amount = $7,100 X 2.25219 = $15,990.55
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Brief Exercise G-1 Jozy Altidore invested $7,100 at 7% annual interest, and left the money invested...
Brief Exercise G-01 Bramble Altidore invested $8,500 at 8% annual interest, and left the money invested...
Brief Exercise G-01 Bramble Altidore invested $8,500 at 8% annual interest, and left the money invested without withdrawing any of the interest for 10 years. At the end of the 10 years, Bramble withdrew the accumulated amount of money. Click below to view the factor tables. Table 1. Future Value of 1 Table 2. Future Value of an Annuity of 1 Table 3. Present Value of 1 Table 4. Present Value of an Annuity of 1 (For calculation purposes, use...
Brief Exercise G-1 Jozy Altidore invested $7,500 at 8% annual interest, and left the money invested...
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,...
Brief Exercise G-1 x Your answer is incorrect. Try again. Jory Altidore invested $7,000 at 7%...
Brief Exercise G-1 x Your answer is incorrect. Try again. Jory Altidore invested $7,000 at 7% annual interest, and left the money invested without withdrawing any of the interest for 12 years. At the end of the 12 years, Jory 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 Jory withdraw, assuming the investment cams imple interest? Accumulated...
Exercise 6-2 Chris Jackson invests $53,400 at 8% annual interest, leaving the money invested without withdrawing...
Exercise 6-2 Chris Jackson invests $53,400 at 8% annual interest, leaving the money invested without withdrawing any of the interest for 8 years. At the end of the 8 years, Chris withdraws the accumulated amount of money. Compute the amount Chris would withdraw assuming the investment earns simple interest. (Round answers to decimal places, e.g. 458,581.) Total withdrawn LINK TO TEXT LINK TO TEXT Click here to view factor tables Compute the amount Chris would withdraw assuming the investment earns...
Tony Jackson invests $58,800 at 10% annual interest, leaving the money invested without withdrawing any of...
Tony Jackson invests $58,800 at 10% annual interest, leaving the money invested without withdrawing any of the interest for 10 years. At the end of the 10 years, Tony withdraws the accumulated amount of money. Compute the amount Tony would withdraw assuming the investment earns simple interest. (Round answers to 0 decimal places, e.g. 458,581.) Total withdrawn s e Textbook and Media Click here to view factor tables Compute the amount Tony would withdraw assuming the investment earns interest compounded...
Exercise 6-2 Leon Jackson invests $44,300 at 8% annual interest, leaving the money invested without withdrawing...
Exercise 6-2
Leon Jackson invests $44,300 at 8% annual interest, leaving the
money invested without withdrawing any of the interest for 8 years.
At the end of the 8 years, Leon withdraws the accumulated amount of
money.
Compute the amount Leon would withdraw assuming the investment
earns simple interest. (Round answers to 0 decimal
places, e.g. 458,581.)
Total withdrawn
$enter total withdrawn in dollars rounded to 0 decimal places
LINK TO TEXT
LINK TO TEXT
LINK TO VIDEO
Click here...
Chris Jackson invests $30,700 at 8% annual interest, leaving the money invested without withdrawing any of...
Chris Jackson invests $30,700 at 8% annual interest, leaving the money invested without withdrawing any of the interest for 8 years. At the end of the 8 years. Chris withdraws the accumulated amount of money. (a) * Your answer is incorrect. Compute the amount Chris would withdraw assuming the investment earns simple interest. (Round answers to decimal places, eg. 458,581) Total withdrawn $ 19648 eTextbook and Media Save for Later Attempts: 1 of 15 used Submit Answer (b) Click here...
Leon Jackson invests $48,800 at 8% annual interest, leaving the money invested without withdrawing any of...
Leon Jackson invests $48,800 at 8% annual interest, leaving the money invested without withdrawing any of the interest for 8 years. At the end of the 8 years, Leon withdraws the accumulated amount of money. New attempt is in progress. Some of the new entries may impact the last attempt grading.Your answer is incorrect. Compute the amount Leon would withdraw assuming the investment earns simple interest. (Round answers to 0 decimal places, e.g. 458,581.) Total withdrawn $enter total withdrawn in...
Brief Exercise G-10 Lloyd Company earns 12% on an investment that will return $453,000 9 years...
Brief Exercise G-10 Lloyd Company earns 12% on an investment that will return $453,000 9 years from now. Click here to view the factor table (For calculation purposes, use 5 decimal places as displayed in the factor table provided.) What is the amount Lloyd should invest now to earn this rate of return? (Round answer to 2 decimal places, e.g. 25.25.) Lloyd Company should invest $ LINK TO TEXT Brief Exercise G-11 Robben Company is considering investing in an annuity...
Brief Exercise G-12 Carla Vista Co. earns 10% on an investment that pays back $81,000 at...
Brief Exercise G-12
Carla Vista Co. earns 10% on an investment that pays back
$81,000 at the end of each of the next 10 years.
Click here to view the factor table.
(For calculation purposes, use 5 decimal places as
displayed in the factor table provided.)
What is the amount Carla Vista Co. invested to earn the 10% rate of
return? (Round answer to 2 decimal places, e.g.
25.25.)
Carla Vista Co. invested
$enter an amount invested in dollars rounded...
Brief Exercise G-01 Bramble Altidore invested $8,500 at 8% annual interest, and left the money invested without withdrawing any of the interest for 10 years. At the end of the 10 years, Bramble withdrew the accumulated amount of money. Click below to view the factor tables. Table 1. Future Value of 1 Table 2. Future Value of an Annuity of 1 Table 3. Present Value of 1 Table 4. Present Value of an Annuity of 1 (For calculation purposes, use...
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,...
Brief Exercise G-1 x Your answer is incorrect. Try again. Jory Altidore invested $7,000 at 7% annual interest, and left the money invested without withdrawing any of the interest for 12 years. At the end of the 12 years, Jory 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 Jory withdraw, assuming the investment cams imple interest? Accumulated...
Exercise 6-2 Chris Jackson invests $53,400 at 8% annual interest, leaving the money invested without withdrawing any of the interest for 8 years. At the end of the 8 years, Chris withdraws the accumulated amount of money. Compute the amount Chris would withdraw assuming the investment earns simple interest. (Round answers to decimal places, e.g. 458,581.) Total withdrawn LINK TO TEXT LINK TO TEXT Click here to view factor tables Compute the amount Chris would withdraw assuming the investment earns...
Tony Jackson invests $58,800 at 10% annual interest, leaving the money invested without withdrawing any of the interest for 10 years. At the end of the 10 years, Tony withdraws the accumulated amount of money. Compute the amount Tony would withdraw assuming the investment earns simple interest. (Round answers to 0 decimal places, e.g. 458,581.) Total withdrawn s e Textbook and Media Click here to view factor tables Compute the amount Tony would withdraw assuming the investment earns interest compounded...
Exercise 6-2
Leon Jackson invests $44,300 at 8% annual interest, leaving the
money invested without withdrawing any of the interest for 8 years.
At the end of the 8 years, Leon withdraws the accumulated amount of
money.
Compute the amount Leon would withdraw assuming the investment
earns simple interest. (Round answers to 0 decimal
places, e.g. 458,581.)
Total withdrawn
$enter total withdrawn in dollars rounded to 0 decimal places
LINK TO TEXT
LINK TO TEXT
LINK TO VIDEO
Click here...
Chris Jackson invests $30,700 at 8% annual interest, leaving the money invested without withdrawing any of the interest for 8 years. At the end of the 8 years. Chris withdraws the accumulated amount of money. (a) * Your answer is incorrect. Compute the amount Chris would withdraw assuming the investment earns simple interest. (Round answers to decimal places, eg. 458,581) Total withdrawn $ 19648 eTextbook and Media Save for Later Attempts: 1 of 15 used Submit Answer (b) Click here...
Brief Exercise G-10 Lloyd Company earns 12% on an investment that will return $453,000 9 years from now. Click here to view the factor table (For calculation purposes, use 5 decimal places as displayed in the factor table provided.) What is the amount Lloyd should invest now to earn this rate of return? (Round answer to 2 decimal places, e.g. 25.25.) Lloyd Company should invest $ LINK TO TEXT Brief Exercise G-11 Robben Company is considering investing in an annuity...
Brief Exercise G-12
Carla Vista Co. earns 10% on an investment that pays back
$81,000 at the end of each of the next 10 years.
Click here to view the factor table.
(For calculation purposes, use 5 decimal places as
displayed in the factor table provided.)
What is the amount Carla Vista Co. invested to earn the 10% rate of
return? (Round answer to 2 decimal places, e.g.
25.25.)
Carla Vista Co. invested
$enter an amount invested in dollars rounded...
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