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denpristay [2]
4 years ago
10

Al Darby wants to withdraw $20900 (including principal) from an investment fund at the end of each year for five years. How shou

ld he compute his required initial investment at the beginning of the first year if the fund earns 11% compounded annually
Business
1 answer:
labwork [276]4 years ago
4 0

Answer:

$20,900 times the present value of a 5-year, 11% ordinary annuity of 1’

Explanation:

For computing the required initial investment we considered the following information

Withdrawn amount = $20,900

Time period = 5 years

Rate of interest = 11%

in mathematically,

= Withdrawn amount  × Present  value of a 5-year, 11% ordinary annuity of 1’

By this formula we can get the required initial investment

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Explanation: The characteristics of the different sourcing arrangements are as follows:

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a bar graph

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pablo management has five employees, each of whom earns $250 per day. they are paid on fridays for work completed monday through
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1. December 31 Wages expense (debit) 1250

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wages payable (debit) 1250

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<h3>What are Wages?</h3>

A wage is the sum of money that an employer pays an employee for work that was completed within a certain time frame. The minimum wage, prevailing rate, annual bonuses, and remunerative rewards like prizes and tip payments are a few examples of wage payments.

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