Your company just sold a product with the following payment plan: $40,000 today, $35,000 next year, and $30,000 the followin

Question

2 years ago

14

Your company just sold a product with the following payment plan: $40,000 today, $35,000 next year, and $30,000 the followin

g year. If your firm places the payments into an account earning 6% per year, how much money will be in the account after collecting the last payment?

Business

1 answer:

liberstina [14] · Answer 1 · 2022-06-04T19:54:08+03:00

Answer:

the money that will be in the account after collecting the last payment is $112,044

Explanation:

The computation of the money that will be in the account after collecting the last payment is shown below:

Amount is

= $40,000 × (1.06)^2 + $35,000 × (1.06) + $30,000

= $112,044

Hence, the money that will be in the account after collecting the last payment is $112,044

Your company just sold a product with the following payment​ plan: $40,000​ today, $35,000 next​ year, and​ $30,000 the followin

Your company just sold a product with the following payment plan: $40,000 today, $35,000 next year, and $30,000 the followin