From 2025 to 2029, the TU Clausthal would like to award the best thesis of the year with a sum of money at the end of each year. For this purpose, €40,000 was available on January 1st, 2021, which bears annual interest of 5%. How high can the annual prize be if there are still €15,000 left for future prizes on 01/01/2030? Give your results rounded to two decimal places. First calculate the amount available for the investment on 01/01/2025: |- Enter the recovery factor for the planned payout: 1- What is the amount of the bonus to be paid out?

From 2025 to 2029, the TU Clausthal would like to award the best thesis of the year with a sum of money at the end of each year. For this purpose, €40,000 was available on January 1st, 2021, which bears annual interest of 5%. How high can the annual prize be if there are still €15,000 left for future prizes on 01/01/2030? Give your results rounded to two decimal places. First calculate the amount available for the investment on 01/01/2025: |- Enter the recovery factor for the planned payout: 1- What is the amount of the bonus to be paid out?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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