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I need help for part b. I found a, c, and d, but all of the answers I have gotten or found online are incorrect.
I need help for part b. I found a, c, and d, but all of the answers I have gotten or found online are incorrect. 386,640 is incorrect. 386,522 is incorrect. 148476 is incorrect. 148,976 is incorrect. Every answer on Chegg is incorrect. This is the only problem that is not "compounded anually," as stated in the question. Thank you in advance, I would love to know how to find this answer but it seems impossible.
B. Determine the future amount if $240,000 is to be received 5 years from today, at 10 percent annual interest.
Use Table FA-1 (in Exhibit B-2) and Table FA-2 (in Exhibit B-4). (Round Fv factor to 3 decimal places.) a. Determine the future amount if $50,000 is invested today for 10 years, at 6 percent interest, compounded annually Future value 89,550 b. Determine the future amount if $240,000 is to be received 5 years from today, at 10 percent annual interest Future value c. Determine the future amount if $20,000 is invested in a fund at the end of each of the next 10 years, at 8 percent interest, compounded annually. Future value 289,740Step by Step Solution
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