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Hi if you could help with these that would be great! I figured out the amount for the first city bank but for some reason
Hi if you could help with these that would be great! I figured out the amount for the first city bank but for some reason am struggling with figuring out the total for the second city bank.. I am working with excel and can't figure out the future value function.
First City Bank pays 7 percent simple interest on its savings account balances, whereas Second City Bank pays 7 percent interest compounded annually. If you made a deposit of $67,000 in each bank, how much more money would you earn from your Second City Bank account at the end of 9 years? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Imprudential, Incorporated, has an unfunded pension liability of $567 million that must be paid in 20 years. To assess the value of the firm's stock, financial analysts want to discount this liability back to the present. If the relevant discount rate is 6 percent, what is the present value of this liability? (Do not round intermediate calculations and enter your answer in dollars, not millions, rounded to 2 decimal places, e.g., 1,234,567.89)Step by Step Solution
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