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Steven Garcia will deposit $24700 into an account today that earns 12% per year compounded annually. Using the following factors, what is the amount that
Steven Garcia will deposit $24700 into an account today that earns 12% per year compounded annually. Using the following factors, what is the amount that will be in the account at the end of the 6 years?
Type of Cash Flow | Periods | Interest Rate | Factor |
---|---|---|---|
PV of $1 | 6 | 12% | 0.5066 |
FV of $1 | 6 | 12% | 1.9738 |
PV ordinary annuity | 6 | 12% | 4.1114 |
FV ordinary annuity | 6 | 12% | 8.1152 |
PV annuity due | 6 | 12% | 4.6048 |
$24376
$12513
$25026
$48753
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