Question
Jones expects an immediate investment of $135,181.20 to return $22,000 annually for ten years, with the first payment to be received one year from
Jones expects an immediate investment of $135,181.20 to return $22,000 annually for ten years, with the first payment to be received one year from now. What rate of interest must Jones earn? (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided. Round "Table Factor" to 4 decimal places.) Present Value Annuity Payment = Table Factor Interest Rate % Keith Riggins expects an investment of $78,137.40 to return $11,000 annually for several years. If Riggins earns a return of 10%, how many annual payments will he receive? (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided. Round "Table Factor" to 4 decimal places.) Present Value Annuity Payment = Table Factor Annual Payments payments Algoe expects to invest $2,400 annually for 15 years to yield an accumulated value of $55,862.40 on the date of the last investment. For this to occur, what rate of interest must Algoe earn? (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided. Round "Table Factor" to 4 decimal places.) Future Value Annuity Payment Table Factor Interest Rate %
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