How much will they have to deposit at the end of each year?
a.) If Sparco, Inc. deposits $150 at the end of each year for the next eight years in an account that pays 5% interest, how much money will Sparco have at the end of eight years?
b.) Suppose Sparco decides that they need to have $5,300 at the end of the eight years.
Answer:
a. n=8, i=5, PV=0, PMT=-150, FV= 1432.37
b. n=8, i=5, PV=0, FV=5300, PMT=-555.03
You might also like to view...
A form of law based on a broad set of legal principles and where decisions are made based on legal codes that have been written over time is:
A) moral law B) theocratic law C) civil law D) common law
Which of the following is sharing of knowledge and experiences through narrative and anecdotes to communicate lessons, complex ideas, concepts, and causal connections?
A. language B. stories C. rituals D. symbols
SmartPhone Company's ad states that its product is "The Best that Money Can Buy.". Because of this ad, the Federal Trade Com¬mission is most likely to issue
a. a cease-and-desist order. b. a counteradvertising order. c. a multiple product order. d. none of the choices.
Answer the following statements true (T) or false (F)
1) In managing inventory for independent demand items, the phrase "timing" refers to the decision query "when to place an order." 2) Demand that is calculated from a parent item is called independent demand. 3) Pareto's law suggests that 80% of the customers will account for 20% of the revenue. 4) In ABC analysis, inventory items are classified by unit cost, with expensive items being classified as A items, and inexpensive items being classified as C items. 5) In ABC inventory analysis, C items typically represent about 15 percent of the number of items but 80 percent of the usage.