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For this question you need to use the Time Value Factors tables you've used throughout the class. Do not round the factors. Assume annual interest
For this question you need to use the Time Value Factors tables you've used throughout the class. Do not round the factors. Assume annual interest rates and annual compounding and choose the answer closest to your calculation. Ann Money wants to have $11,000 in five years. If she can earn 9%, compounded annually, on the money, how much will she have to deposit today? $16,000 $10, 010 $6, 050 $7, 149 $16, 925 For this question you need to use the Time Value Factors tables you've used throughout the class. Do not round the factors. Assume annual interest rates and annual compounding and choose the answer closest to your calculation. John Collmer and Mindy Nyman intent to save $2,000 at the end of every year for the next 8 years for their "reunion" trip to Ghana. If they deposit the funds in an account that earns 6% interest, how much will they have at the end of 8 years? $18, 960 $16,000 $12, 420 $19, 795 $16, 960 For this question you need to use the Time Value Factors tables you've used throughout the class. Do not round the factors. Assume annual interest rates and annual compounding and choose the answer closest to your calculation. Chris Van Voorhies just inherited $500,000. The money was put in a trust that allows Chris to make equal withdrawals, every year, over the next 10 years. If the trust earns 5% interest, how much can Chris withdraw each year? $75,000 $81, 445 $39, 752 $64, 752 $50,000
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