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umka21 [38]
3 years ago
15

You have $19,750 you want to invest for the next 22 years. You are offered an investment plan that will pay you 9 percent per ye

ar for the next 11 years and 13 percent per year for the last 11 years. a. How much will you have at the end of the 22 years
Business
1 answer:
zheka24 [161]3 years ago
6 0

Answer:

$195,488.6

Explanation:

The computation of the amount at the end of the 22 years is shown below

The Amount at the end of 1st 11 years is

= Principal × (1 + interest rate)^number of years

= $19,750 × (1 + 0.09)^11

= $50,963.42  

Now the amount at the end of the last 11 years is

= $50,963.42 × (1 + 0.13)^11

= $195,488.6

hence, the value at the end of the 22 years is $195,488.60

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Since Mr. Wise will be making monthly payments for the period of 25 years in order to accumulated the $1,000,000 at the end of 25 years, therefore, the future value of annuity shall be used to determine the monthly payments to be deposited by Mr Wise. The formula of future value of annuity is given as follows:

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The challenges and the opportunity that are in existence will be well known to the existing competitors. They already have buyers and suppliers chain. Hence, the new entrant will have higher production cost and also they require higher volumes to achieve profits.

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