Narrative 11-1Solve the following problems using either Tables 11-1 or 11-2 from your text. When necessary, create new table factors. (Round new table factors to five decimal places, round dollars to the nearest cent and percents to the nearest hundredth of a percent)
Suppose you wish to have $15,000 in 19 years. Use the present value formula to find how much you should invest now at 9% interest, compounded annually in order to have $15,000, 19 years from now.
A. $2,917.35
B. $1,350.00
C. $12,082.65
D. $9,165.30
Answer: A
You might also like to view...
You manage an Apple Store. Explain how each of the four perspectives of the balanced scorecard is relevant to your business.
What will be an ideal response?
Answer the following statements true (T) or false (F)
Research is supportive of the contention that cash and funds flow data are informative above and beyond accrual data.
Mark, an owner of a small food retailer, goes to Simons Foods every week to buy food products that he sells at his store. What type of wholesaler is Simons Foods?
A) rack jobber B) full-service C) cash-and-carry D) drop shipper E) manufacturer's sales office
Balance sheet liabilities should be recorded at their
a. original outstanding balance. b. year-end outstanding balance. c. average outstanding balance. d. current outstanding balance. e. none of these.