Question
You have a goal of having $190,000 five years from today. The return on the investment is expected to be 10% and will be compounded
You have a goal of having $190,000 five years from today. The return on the investment is expected to be 10% and will be compounded semi-annually. The amount that needs to be invested today is closest to: (FV of $1, PV of $1, FVA of $1, and PVA of $1) (Use appropriate factor(s) from the tables provided.)
Multiple Choice
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$95,000.
Incorrect -
$126,667.
-
$116,643.
-
$117,343.
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Intermediate Accounting
Authors: J. David Spiceland, James Sepe, Mark Nelson
6th edition
978-0077328894, 71313974, 9780077395810, 77328892, 9780071313971, 77395816, 978-0077400163
