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Tom Thompson expects to invest $17,000 at 15% and, at the end of a certain period, receive $79,091. How many years will it be before
Tom Thompson expects to invest $17,000 at 15% and, at the end of a certain period, receive $79,091. How many years will it be before Thompson receives the payment? (PV of $1, FV of $1, PVA of $1, and FVA of $1)
Note: Use appropriate factor(s) from the tables provided. Round "Table Factor" to 4 decimal places.
Future Value | Present Value | Table Facor | Years | ||
$79,091 | / | 17,000 | = | 4.6524 | ? years |
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