Leon Inc. will deposit $ 55,700 in a 8% fund at the end of each year for 9...
Leon Inc. will deposit $ 55,700 in a 8% fund at the
end of each year for 9 years beginning December 31,
2017.
What amount will be in the fund immediately after the last deposit?
(Round factor values to 5 decimal places, e.g. 1.25124
and final answers to 0 decimal places, e.g.
458,581.)
Homework Answers
Future value of annuity=Annuity[(1+rate)^time period-1]/rate
=55700[(1.08)^9-1]/0.08
=55700*12.48756
=$695,557(Approx).
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Leon Inc. will deposit $ 55,700 in a 8% fund at the
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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Total withdrawn
$enter total withdrawn in dollars rounded to 0 decimal places
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e.g. 458,581.)
The future value
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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Total withdrawn
$enter total withdrawn in dollars rounded to 0 decimal places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...
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8% compounded interest? (Round factor values to 5
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e.g. 458,581.)
The future value
$
Click here to view factor tables
What is the present value of $8,650 due 8 periods hence, discounted
at 6%? (Round factor values to 5 decimal places, e.g.
1.25124 and final answer to 0 decimal places, e.g.
458,581.)
The present value...
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458,581.)
Amount to Pay
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