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Current Attempt in Progress Blossom Corporation currently grows and sells fresh produce year-round in its homemade greenhouses. As the business is growing, Blossom hopes to
Current Attempt in Progress Blossom Corporation currently grows and sells fresh produce year-round in its homemade greenhouses. As the business is growing, Blossom hopes to significantly expand its number of greenhouses in 8 years. Blossom has deposited $109,000 into an investment account that will earn a 4% annual rate of interest. Blossom is also committed to depositing $9,800 into the same account at the end of each of the next 8 years. (a) Your answer is incorrect. Using the FV function in Excel or a financial calculator, calculate how much Blossom will have in its account at the end of 8 years. (Do not round intermediate calculations. Round final answer to 2 decimal places, e.g. 458,581.25.) Future value $ eTextbook and Media Assume now that Blossom will make the $9,800 deposits at the beginning of the next 8 years. Using the FV function in Excel, or a financial calculator, calculate how much Blossom will have in its account at the end of year 8. (Do not round intermediate calculations. Round final answer to 2 decimal places, e.g. 458,581.25.) Future value $ eTextbook and Media Attempts: 0 of 5 used c) Blossom knows it needs $504,000 in 8 years to purchase additional greenhouses. Assuming it will make annual deposits of $9,800 into an account earning 4% annual interest at the end of the next 8 years, use the PV function in Excel or a financial calculator to determine how much it must deposit today. (Do not round intermediate calculations. Round final answer to 2 decimal places, e.g. 458,581.25.) Present value $
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