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IrinaK [193]
3 years ago
15

For the next 6 years, you plan to make equal quarterly deposits of $600.00 into an accountpaying 8% compounded quarterly. How mu

ch will be the total you have at the end of the time
Business
1 answer:
viva [34]3 years ago
8 0

Answer:

Final Value= $18,253.12

Explanation:

Giving the following information:

For the next 6 years, you plan to make equal quarterly deposits of $600.00 into an account paying 8% compounded quarterly.

To calculate the final value, we need to use the following formula:

FV= {A*[(1+i)^n-1]}/i

A= quarterly deposit= 600

n= 6*4= 24

i= 0.08/4= 0.02

FV= {600*[(1.02^24) - 1]}/ 0.02= $18,253.12

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1. Monroe Company owns 40% of the voting stock of Nartal Industries, acquired at book value. Nartal reports income of $600,000 f
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3 years ago
A $100 petty cash fund has cash of $17 and receipts of $86. The journal entry to replenish the account would include a :
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3 years ago
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Answer:

only 5 point.................

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2 years ago
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