Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Jul 02, 2019

What is the future value 10 years from now, of an annuity that pays a constant payment of $900 at the beginning of each year

What is the future value 10 years from now, of an annuity that pays a constant payment of $900 at the beginning of each year for 10 years? Assume an opportunity cost of capital of 5.00%.

A. $12,647
B. $11,886
C. $11,034
D. $7,297
E. I choose not to answer

Step by Step Solution

★★★★★

3.36 Rating (149 Votes )

There are 3 Steps involved in it

Step: 1

Future value of Annuity due It is used to calculate the ending value of a series of ... blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

Step: 3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Construction accounting and financial management

Authors: Steven j. Peterson

2nd Edition

135017114, 978-0135017111

More Books

Students also viewed these Finance questions

Question

★★★★★

What is the future value eight years from now of each of the following cash-flow streams if money can earn 9% compounded semiannually? a. A single payment of $5000 today. b. An ordinary annuity...

Answered: 1 week ago

Question

★★★★★

What is the future value of a 7%, 5-year ordinary annuity that pays $300 each year? If this were an annuity due, what would its future value be?

Answered: 1 week ago

Question

★★★★★

What is the future value of $10,000 invested for two years at a nominal interest rate of 12 percent, compounded continuously?

Answered: 1 week ago

Question

★★★★★

Air flows with negligible friction through a 4-indiameter duct at a rate of = lbm/s. The temperature and pressure at the inlet are T1 = 800 R and P1 = 30 psia, and the Mach number at the exit is Ma2...

Answered: 1 week ago

Question

★★★★★

The after-closing trial balance of the Lin, Mae, and Nel partnership at December 31, 2011, was as follows: ADDITIONAL INFORMATION 1. The partnership is to be liquidated as soon as the assets can be...

Answered: 1 week ago

Question

★★★★★

4 A company has decided to manufacture a general-purpose smoothing plane, a tool which smooths and shapes wood. Its engineers estimated the time it would take to perform each element in the assembly...

Answered: 1 week ago

Question

★★★★★

Determine whether or not it is reasonable to assume that ???????? ???????? when (a) ???????? = 22, ???????? = 20, ???????? = 15.4, and ???????? = 20.8. (b) ???????? = 60, ???????? = 80, ???????? =...

Answered: 1 week ago

Question

★★★★★

The following is an excerpt from a conversation between Mark Loomis and Krista Huff. Mark is debating whether to buy a stereo system from Tru-Sound Systems, a locally owned electronics store, or...

Answered: 1 week ago

Question

★★★★★

Raintree Cosmetic Company sells its products to customers on a credit basis. An adjusting entry for bad debt expense is recorded only at December 31, the companys fiscal year-end. The 2020 balance...

Answered: 1 week ago

Question

★★★★★

WRITE IN PYTHON AND IN THE GIVEN CODE coderbyte medium Back-end Challenge In the Python file, write a program to perform a GET request on the route Time left: Unlimited time...

Answered: 1 week ago

Question

★★★★★

Indicate where each item would appear on a statement of cash flows using the indirect method by placing an X in the appropriate column(s). (More than one column may be used.) a. Purchased treasury...

Answered: 1 week ago

Question

★★★★★

3. A 0.9 ft diameter steel stud is mounted upright to the seabed at a water depth of 32 ft. If the pipe is hit by 4.5 ft high waves, exhibiting a wavelength of 26 ft, calculate the: (i) Max. fluid...

Answered: 1 week ago

Question

★★★★★

P24-4A Clarke Inc. operates the Patio Furniture Division as a profit center. Operating data for this division for the year ended December 31, 2017, are as shown below. Prepare responsibility report...

Answered: 1 week ago

Question

★★★★★

Soren's favorite cereal is on sale. A 20-ounce box costs $4.59. A smaller, 12-ounce box costs $2.52. Complete the statements to describe which box costs less per ounce. 0 answers

Answered: 1 week ago

Question

★★★★★

Locate an article that addresses DRM (Digital Rights Management) Identify how DRM is being used. Discuss the content holder's reasoning for implementing (or not implementing) DRM on the content....

Answered: 1 week ago

Question

★★★★★

Figure 1 shows a cabling system that will be used to support utility poles that are to be installed in your companies factory. The pole is a steal pipe and will be supported by a pair of cables at...

Answered: 1 week ago

Question

★★★★★

Learning: Ch 0 4 : Ethical and Social Issues in Information Systems QUESTION ( i ) ANSWER There are subtle and surreptitious tools for surveillance of Internet users. Website owners can combine the...

Answered: 1 week ago

Question

★★★★★

The 2017 financial statements of the U.S. government are available at: https://www.fiscal.treasury.gov/fsreports/rpt/finrep/fr/fr_index.htm Use these to answer the following questions: a. Statement...

Answered: 1 week ago

Question

★★★★★

A construction company is bidding on a contract to build homes for a developer. The project consists of two types of homes and is scheduled to begin in September. The expected monthly housing starts,...

Answered: 1 week ago

Question

★★★★★

Your company has an existing loan with monthly payments, principal, and interest of $1,883.65. There are 48 payments left on the loan and the loan has an unpaid balance of $74,269.00. Your company is...

Answered: 1 week ago

Question

★★★★★

Using the chart of accounts in Figure 2-1, determine the changes to the balance sheet, income statement, job cost ledger, and equipment ledger as the result of paying a $5,000 invoice for concrete...

Answered: 1 week ago

Question

★★★★★

Consider the partial resource-loading chart shown below. Suppose that you can commit a maximum of eight resource hours per day. a. What are the dates on which project resources are overallocated? b....

Answered: 1 week ago

Question

★★★★★

Construct the project activity network using AON methodology. Consider a project with the following information:

Answered: 1 week ago

Question

★★★★★

Referring to Figure 12.23, suppose you have the opportunity to hire two new carpenters to perform Georges tasks (shortening them by 50%). What would be the new projected completion date for the...

Answered: 1 week ago

Previous Question Next Question