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

image text in transcribedimage text in transcribed Sunland Corporation currently grows and sells fresh produce year-round in its homemade greenhouses. As the business is growing, Sunland hopes to significantly expand its number of greenhouses in 6 years. Sunland has deposited $110,000 into an investment account that will earn a 9% annual rate of interest. Sunland is also committed to depositing $10,600 into the same account at the end of each of the next 6 years. (a) Using the FV function in Excel or a financial calculator, calculate how much Sunland will have in its account at the end of 6 years. (Do not round intermediate calculations. Round final answer to 2 decimal places, e.g. 458,581.25.) Future value $ eTextbook and Media Attempts: 3 of 5 used (b) Assume now that Sunland will make the $10,600 deposits at the beginning of the next 6 years. Using the FV function in Excel, or a financial calculator, calculate how much Sunland will have in its account at the end of year 6. (Do not round intermediate calculations. Round final answer to 2 decimal places, e.g. 458,581.25.) Future value \$ Sunland knows it needs $498,000 in 6 years to purchase additional greenhouses. Assuming it will make annual deposits of $10,600 into an account earning 9\% annual interest at the end of the next 6 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.) Present value \$

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