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!!!!!!!!
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