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Michael Jones will deposit $19100 into an account today that earns 8% per year compounded annually. Using the following factors, what is the amount that
Michael Jones will deposit $19100 into an account today that earns 8% per year compounded annually. Using the following factors, what is the amount that will be in the account at the end of the 4 years? Periods 4 4 Type of Cash Flow PV of $1 FV of $1 PV ordinary annuity FV ordinary annuity PV annuity due Interest Rate 8% 8% 8% 896 896 Factor 0.7350 13605 3.3121 4.5061 3.5771 4 4 4 O $14039 O $28077 O $25986 $12993
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