Sandhill Corporation currently grows and sells fresh produce year round in its homemade greenhouses As the business is growing Sandhill hopes to significantly expand its number of greenhouses in 8 years Sandhill has deposited $106,000 into an investment account that will earn a 2 annual rate of interest Sandhill is also committed to depositing $9,900 into the same account at the end of each of the next 8 years Requirements Using the FV function in Excel or a financial calculator, calculate how much Sandhill will have in its account at the end of 8 years (Do not round intermediate calculations Round final answer to 2 decimal places, e g 458,581 25 ) 2 Assume now that Sandhill will make the $9,900 deposits at the beginning of the next 8 years Using the FV function in Excel, or a financial calculator, calculate how much Sandhill will have in its account at the end of year 8 (Do not round intermediate calculations Round final answer to 2 decimal places, e g 458,581 25 ) 3 Sandhill knows it needs $513,000 in 8 years to purchase additional greenhouses Assuming it will make annual deposits of $9,900 into an account earning 2 annual interest at the end of the next 8 years, use the PV function in Excel or a financial calculator to determine how much it must deposit today (Do not round intermediate calculations Round final answer to 2 decimal places, e g 458,581 25 )

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Posted on Aug 26, 2024

Sandhill Corporation currently grows and sells fresh produce year-round in its homemade greenhouses. As the business is growing. Sandhill hopes to significantly expand its number

Sandhill Corporation currently grows and sells fresh produce year-round in its homemade greenhouses. As the business is growing. Sandhill hopes to significantly expand its number of greenhouses in 8 years. Sandhill has deposited $106,000 into an investment account that will earn a 2% annual rate of interest. Sandhill is also committed to depositing $9,900 into the same account at the end of each of the next 8 years

Requirements

Using the FV function in Excel or a financial calculator, calculate how much Sandhill will have in its account at the end of 8 years. (Do not round intermediate calculations. Round final answer to 2 decimal places, e.g. 458,581.25.)

2. Assume now that Sandhill will make the $9,900 deposits at the beginning of the next 8 years. Using the FV function in Excel, or a financial calculator, calculate how much Sandhill will have in its account at the end of year 8. (Do not round intermediate calculations. Round final answer to 2 decimal places, e.g. 458,581.25.)

3. Sandhill knows it needs $513,000 in 8 years to purchase additional greenhouses. Assuming it will make annual deposits of $9,900 into an account earning 2% annual interest at the end of the next 8 years, use the PV function in Excel or a financial calculator to determine how much it must deposit today. (Do not round intermediate calculations. Round final answer to 2 decimal places, e.g. 458,581.25.)