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Lapatulllka [165]
2 years ago
9

Jeannie plans to deposit $6,000 in a money market sinking fund at the end of each year for the next four years. What is the amou

nt that will accumulate by the end of the fourth and final payment if the sinking fund earns 9% interest? (FV of $1, PV of $1, FVA of $1,PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided. Round your final answer to the nearest whole dollar amount.)
Which of the following statements about annuities are true?
A. The first cash flow of an annuity due is made on the first day of the agreement.
B. The first cash flow of an annuity due is made on the first day of the agreement.
C. The first cash flow of an ordinary annuity is made on the first day of the agreement.
D. The first cash flow of an ordinary annuity is made on the first day of the agreement.
E. The last cash flow of an annuity due is made on the day covered by the agreement.
F. The last cash flow of an annuity due is made on the day covered by the agreement.
G. The last cash flow of an ordinary annuity is made on the last day covered by the agreement.
H. The last cash flow of an ordinary annuity is made on the last day covered by the agreement.
Business
1 answer:
Mnenie [13.5K]2 years ago
5 0

Answer:

A. The first cash flow of an annuity due is made on the first day of the agreement.

G. The last cash flow of an ordinary annuity is made on the last day covered by the agreement.

Explanation:

The computation is shown below:

As we know that

Future value after 4 years is

= Annual deposit  × Cumulative FV factor at 9% for 4 periods of an ordinary annuity

= $6,000 × 4.57313

= $27,439

Therefore the above statements are true and the same is to be considered

Hence, all other statements are incorrect

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Answer:

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Explanation:

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3 0
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Answer:

The athlete with equal installments got the better deal.

Explanation:

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7 0
2 years ago
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Following are a number of unrelated transactions for the Village of Centerville, some of which affect governmental activities at
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Answer:

The answer is attached below

Explanation:

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A company has developed a new cell phone which will be targeted to developing countries. It is estimated that the demand for the
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Answer:

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4 0
3 years ago
Read 2 more answers
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