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Beginning one year from today, Larry will begin investing $3,000 at the end of each year for five years at 8% interest compounded annually. Rounded
Beginning one year from today, Larry will begin investing $3,000 at the end of each year for five years at 8% interest compounded annually. Rounded to the nearest whole dollar, how much will Larry have in his account at the end of year five, immediately after his last payment? $ (Remember to round to the nearest whole dollar. Do not use commas or decimals in your response) Rounded to the nearest whole dollar, how much in total interest did Larry earn over the entire five years? $ On January 1, Whistler Corp. purchased a factory machine costing S100,000. It paid $22,000 down and financed the remaining S78,000. The amount financed will be paid back in five (5) equal annual installments at the end of each year at an interest rate of 10% compounded annually. Rounded to the nearest whole dollar, what will be the amount of each annual payment? Factor Tables: Future Value of a Lump Sum Present Value of a Lump Sum Future Value of an Annuity Present Value of an Annuity Select one: $326, 380 $23, 214 19, 785 $20, 576 $22, 687 $22, 423
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