You will be able to deposit $4,000 at the end of each of the next 5 years in a bank account paying 8% interest per year compounded annually. You currently have $6,375 in the account. Assuming no other deposits or withdrawals, how much will you have in your account after 7 years from now? 1. c $39,966.43 2. $46,616.84 $32,833.37 3. 4. c $38.296.84 NONEZ

You will be able to deposit $4,000 at the end of each of the next 5 years in a bank account paying 8% interest per year compounded annually. You currently have $6,375 in the account. Assuming no other deposits or withdrawals, how much will you have in your account after 7 years from now? 1. c $39,966.43 2. $46,616.84 $32,833.37 3. 4. c $38.296.84 NONEZ

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

ChapterM: Time Value Of Money Module

Section: Chapter Questions

Problem 4MC: Refer to the present value table information on the previous page. What amount should Brett have in...

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Refer to the present value table information on the previous page. What amount should Brett have in his bank account today, before withdrawal, if he needs 2,000 each year for 4 years, with the first withdrawal to be made today and each subsequent withdrawal at 1-year intervals? (Brett is to have exactly a zero balance in his bank account after the fourth withdrawal.) a. 2,000 + (2,000 0.926) + (2,000 0. 857) + (2,000 0.794) b. 2,0000.7354 c. (2,000 0.926) + (2,000 0.857) + (2,000 0.794) + (2,000 0.735) d. 2,0000.9264
Question 14 Suppose for an annuity due, you want to have $30,000 in the bank after 20 years. Assuming you make deposits at the beginning of each year at an interest rate of 4%, how much would you have to deposit at the start of each year, assuming that each deposit is the same amount? A) s968.70 B $816.22 $625.00 $737.24
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