A pension fund manager invests $10 million in a debt obligation that promises to pay 7.3% per year for four years. What is the future value of the $10 million?
What will be an ideal response?
To determine the future value of any sum of money invested today, we can use the future value equation, which is: Pn= P0 (1 + r)nwhere n = number of periods, Pn= future value n periods from now, P0= original principal and r = interest rate per period. Inserting in our values, we have: P4= $10,000,000(1.073)4= $10,000,000(1.325558466) =$13,255,584.66 .
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All of the following are procedures used in accounting for a petty cash fund except
a. The money obtained from cashing a petty cash check is given to the custodian. b. Each time monies are paid from petty cash, the custodian requests reimbursement. c. Each time monies are paid from petty cash, the custodian records the details of the payment on a petty cash receipt form. d. The custodian is authorized to disburse monies from the petty cash fund.
The pollutant standards under the national ambient air quality standards (NAAQS) are set in two levels
Indicate whether the statement is true or false
Under the UCC, a contract is formed when ________
A) the acceptance is mailed or otherwise transmitted B) the acceptance letter is prepared by the buyer (offeree) C) the buyer (offeree) receives a counteroffer from the seller D) the seller (offeror) receives acceptance from the offeree
What is the purpose of the Uniform Computer Information Transactions Act?
A) To ensure that credit card companies process transactions promptly B) To convert existing contract law so that all contracts are interpreted as if they were negotiated over the Internet C) To establish uniform rules for the formation and enforcement of electronic contracts and licenses D) To provide consumers certain rights in their contracts with Internet service providers