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Natali5045456 [20]
3 years ago
14

You will receive $15,000 in two years when you graduate. You plan to invest this at an annual interest rate of 6.5%. How much mo

ney will you have 8 years from now?
a. $24,824.94.
b. $19,381.16.
c. $21,887.13.
d. $23,209.19.
e. $20,414.73.
Business
1 answer:
Sunny_sXe [5.5K]3 years ago
8 0

Answer:

FV= $21,887.13

Explanation:

Giving the following information:

Initial investment= $15,000

Number of periods= 6 years

Interest rate= 6.5% compounded annually

T<u>o calculate the future value of the investment, we need to use the following formula:</u>

FV= PV*(1+i)^n

FV= 15,000*(1.065^6)

FV= $21,887.13

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(Ignore income taxes in this problem.) The management of Stanforth Corporation is investigating automating a process. Old equipm
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The simple rate of return on the investment is closest to: <u>34.5%</u>

<u>Explanation</u>:

<em><u>Given</u></em>:

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Simple Return on Investment is Calculated as follows:-

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3 years ago
You are trying to concentrate during an examination but you get distracted by the sound of another student tapping her pencil on
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Answer:

True

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What annual rate of return would Jia need to earn if she deposits​ $20,000 per year into an account beginning one year from toda
Nimfa-mama [501]

Answer:

3.12%

Explanation:

We use formula in excel to calculate annual rate of return

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Please see excel attached for the calculation

Download xlsx
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