Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

asap Assuming an interest rate of 12%, if you invest a lump sum of $8,000 now, the balance of your investment in 6 years will

asap
image text in transcribed
Assuming an interest rate of 12%, if you invest a lump sum of $8,000 now, the balance of your investment in 6 years will be closest to: Future Value of $1 Periods 8% 10% 12% 14% 5 1.469 1.611 1.762 1.925 6 1.587 1.772 1974 2.195 7 1.714 1.949 2.211 2.502 8 1.851 2.144 2.476 2.853 9 1.999 2.358 2.773 3.252 10 2.159 2.594 3.106 3.707 Future Value of Annuity of $1 Periods 8% 5 5.867 6 7336 7 8.923 8 10.637 9 12.488 10 14.487 10% 6.105 7.716 9.487 11.436 13.579 15.937 12% 6.353 8.115 10.089 12.300 14.776 17 549 14% 6.610 8.536 10.730 13.233 16.085 19.337 OA $15.792 OB $32,888 OC. $48,000 OD $4,056

Step by Step Solution

There are 3 Steps involved in it

Step: 1

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

blur-text-image_2

Step: 3

blur-text-image_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

Auditing A Practical Approach

Authors: Robyn Moroney, Fiona Campbell, Jane Hamilton, Valerie Warren

3rd Canadian edition

1-119-40285-5, 111940276X, 978-1119566007

More Books

Students also viewed these Accounting questions

Question

=+Can your message work in another locale?

Answered: 1 week ago