A person wants to have $2,000 available to spend on an overseas trip four years from now. If such funds could be expected to earn 8 percent, how much should be invested in a lump sum to realize the $2,000 when needed? Round your answer to the nearest whole dollar. Round Present Value of a Single Amount in intermediate calculations to four decimal places.
A person wants to have $2,000 available to spend on an overseas trip four years from now. If such funds could be expected to earn 8 percent, how much should be invested in a lump sum to realize the $2,000 when needed? Round your answer to the nearest whole dollar. Round Present Value of a Single Amount in intermediate calculations to four decimal places.
Financial Accounting Intro Concepts Meth/Uses
14th Edition
ISBN:9781285595047
Author:Weil
Publisher:Weil
ChapterA: Appendix - Time Value Of Cash Flows: Compound Interest Concepts And Applications
Section: Chapter Questions
Problem 23E
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A person wants to have $2,000 available to spend on an overseas trip four years from now. If such funds could be expected to earn 8 percent, how much should be invested in a lump sum to realize the $2,000 when needed? Round your answer to the nearest whole dollar. Round
Present Value of a Single Amount in intermediate calculations to four decimal places.$
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A person invests $50,000 in an investment that earns 6 percent. If $5,379 is withdrawn each year, how many years will it take for the fund to run out? Round to the nearest whole year. Round Present Value of Series of Equal Amounts in intermediate calculations to four decimal places.
years
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