Present and future value tables of $1 at 9% are presented below. N 1 2 3 4 FV $1 1.09000 1.18810 1.29503 1.41158 1.53862 5 0.91743 1.0000 1.0900 0.91743 1.00000 0.84168 2.0900 2.2781 1.75911 1.91743 0.77218 3.2781 3.5731 2.53129 2.75911 0.70843 4.5731 4.9847 3.23972 3.53129 0.64993 5.9847 6.5233 3.88965 4.23972 6 1.67710 0.59627 7.5233 8.2004 4.48592 4.88965 You want to invest $7800 annually beginning now in order to accumulate $38,140 for a down payment on a house. can invest at an interest rate of 9% compounded annually, about how many years will it take to accumulate the requ amount? Select one: A. 2 years. B. 6 years. PV $1 C. 3 years D. 7 years. FVA $1 FVAD $1 PVA $1 PVAD $1
Present and future value tables of $1 at 9% are presented below. N 1 2 3 4 FV $1 1.09000 1.18810 1.29503 1.41158 1.53862 5 0.91743 1.0000 1.0900 0.91743 1.00000 0.84168 2.0900 2.2781 1.75911 1.91743 0.77218 3.2781 3.5731 2.53129 2.75911 0.70843 4.5731 4.9847 3.23972 3.53129 0.64993 5.9847 6.5233 3.88965 4.23972 6 1.67710 0.59627 7.5233 8.2004 4.48592 4.88965 You want to invest $7800 annually beginning now in order to accumulate $38,140 for a down payment on a house. can invest at an interest rate of 9% compounded annually, about how many years will it take to accumulate the requ amount? Select one: A. 2 years. B. 6 years. PV $1 C. 3 years D. 7 years. FVA $1 FVAD $1 PVA $1 PVAD $1
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Transcribed Image Text:Present and future value tables of $1 at 9% are presented below.
N
2
3
4
FV $1
PV $1
1.09000
0.91743
1.0000
1.0900
1.00000
1.18810
0.84168
2.0900
2.2781
1.91743
1.29503
0.77218
3.2781
3.5731
2.75911
1.41158 0.70843
4.5731
4.9847
3.53129
1.53862 0.64993
5.9847
6.5233
4.23972
6
1.67710 0.59627
7.5233
8.2004
4.88965
You want to invest $7800 annually beginning now in order to accumulate $38,140 for a down payment on a house. If
can invest at an interest rate of 9% compounded annually, about how many years will it take to accumulate the requir
amount?
сл
Select one:
FVA $1
A. 2 years.
B. 6 years.
C. 3 years.
D. 7 years.
FVAD $1
PVA $1
PVAD $1
0.91743
1.75911
2.53129
3.23972
3.88965
4.48592
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