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Schach [20]
3 years ago
15

A lottery winner will receive $5 million at the end of each of the next fourteen years. What is the future value​ (FV) of her wi

nnings at the time of her final​ payment, given that the interest rate is 8.2​% per​ year?

Business
1 answer:
tester [92]3 years ago
5 0

Answer:

$122,821,129.69

Explanation:

For computing the future value we need to apply the future value formula i.e to be shown in the attachment below:

Provided that,  

Present value = $0

Rate of interest = 8.2%

NPER = 14 years

PMT = $5,000,000

The formula is shown below:

= -FV(Rate;NPER;PMT;PV;type)

So, after applying the above formula, the future value is $122,821,129.69

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6 0
2 years ago
During what meeting did the delegates request each state write a constitution?
Tasya [4]
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6 0
3 years ago
Which of the following is a benefit of increased levels of education?
aalyn [17]
I think the answer is C
3 0
2 years ago
Romney's Marketing Company has the following adjusted trial balance at the end of the current year. No dividends were declared.
DerKrebs [107]

Answer:

Net income = $3,560

Explanation:

                                       Romney's Marketing Company

                                        Multi-step income statement

                               For the Year ended December 31 20YY

Sales revenues 37,250

Less: Cost of goods sold = 0

Gross profit                                                          = 37,250

Less: Operating expense:

Wages expense                                 = $19,000

Depreciation expense                       = $1,750

Utilities expense                                = $320

Insurance expense                            = $780

Rent expense                                     = $9,800

Total operating expense                   = ($31,650)

Add: operating income:

Rent revenue                                      =  $560

Total operating income                                         = $6,160

Other operating income

Interest revenue                                                    = 160

Net income before taxes                                      = $6,320

Income tax expense                                              = $2,760

Net income                                                             = $3,560

4 0
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Andru [333]

Answer:

having a financial plan means finding a job and preparing to use half of your income or money earned from that job and save the other half , doing this every time you are a looking to get paid will increase your savings and then you would be able to use that savings for furthering your education so you can get access to study jobs that will help you to understand the career you wish to pursue

4 0
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