Sheridan Company earns 9% on an investment that pays back $83,200 at the end of each...
Homework Answers
Interest rate (i) = 9%
Annual cash inflow = $83,200
time period (n) = 4 years
Present value of cash inflows = Annual cash inflow x Present value annuity factor (i%,n)
= 83,200 x Present value annuity factor (9%,4)
= 83,200 x 3.23972
= $269,545
Hence, amount invested by Sheridan company = $269,545
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Sheridan Company earns 9% on an investment that pays back
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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.)
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