Amy Medavoy will invest $8,160 a year for 20 years in a fund that will earn 8% annual interest. Click here to view factor tables. If the first payment into the fund occurs today, what amount will be in the fund in 20 years? If the first payment occurs at year-end, what amount will be in the fund in 20 years? (Round factor values to 5 decimal places, e.g. 1.25124 and final answers to 0 decimal places, e.g. 458,581.) First payment today First payment at year-end 10

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Amy Medavoy will invest $8,160 a year for 20 years in a fund that will earn 8% annual interest.
Click here to view factor tables.
If the first payment into the fund occurs today, what amount will be in the fund in 20 years? If the first payment occurs at year-end,
what amount will be in the fund in 20 years? (Round factor values to 5 decimal places, e.g. 1.25124 and final answers to 0 decimal places, e.g.
458,581.)
First payment today
First payment at year-end
LA
19
Transcribed Image Text:Amy Medavoy will invest $8,160 a year for 20 years in a fund that will earn 8% annual interest. Click here to view factor tables. If the first payment into the fund occurs today, what amount will be in the fund in 20 years? If the first payment occurs at year-end, what amount will be in the fund in 20 years? (Round factor values to 5 decimal places, e.g. 1.25124 and final answers to 0 decimal places, e.g. 458,581.) First payment today First payment at year-end LA 19
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