Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

If a 14% rate of return can be achieved, how much will need to be invested today in order to receive $12,000 at the end

If a 14% rate of return can be achieved, how much will need to be invested today in order to receive $12,000 at the end of 3 years plus $10,000 at the end of 5 years? Round to the nearest whole number.

A. $33,053

B. $5,194

C. $11,426

D. $13,294

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

The Wall Street Mba

Authors: Reuben Advani

2nd Edition

007178831X, 9780071788311

More Books

Students also viewed these Accounting questions

Question

5. Describe the main retirement benefits.pg 87

Answered: 1 week ago

Question

5. Explain how ERISA protects employees pension rights.pg 87

Answered: 1 week ago