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meriva
3 years ago
13

BE6.10 (LO 4) Henry Quincy wants to withdraw $30,000 each year for 10 years from a fund that earns 8% interest. How much must he

invest today if the first withdrawal is at year-end
Business
1 answer:
marin [14]3 years ago
3 0

Answer:

$201,302

Explanation:

Calculation for How much must he invest today if the first withdrawal is at year-end

First step is to calculate (FVF-OAn,i) using financial calculation

R = 30,000

n = 10

i = 8%

(FVF-OAn,i)=(6.71008)

Now let calculate the amount to be Invested today using this formula

Investment today = R (FVF-OAn,i)

Let plug in the formula

Investment today= 30,000 (6.71008)

Investment today = $201,302

Therefore the amount he must invest today if the first withdrawal is at year-end is $201,302

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Question Completion:

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Answer:

The statements about the importance of each competitive factors (but especially such highly influential factors as selling prices, S/Q ratings, and number of models/styles offered) in determining company sales volumes and market shares in a particular geographic region which is false is:

O Tiny cross-company differences on a highly influential competitive factor (like selling prices, or S/Q ratings or models/styles) nearly always have a bigger impact on company sales/market shares in a region than do large company-to-company differences on less influential competitive factors.

Explanation:

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