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year for 20 years in a f

year for 20 years in a f

FINANCIAL ACCOUNTING
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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Current Attempt in Progress Your answer is partially correct. Amy Medavoy will invest $8,960 a year for 20 years in a fund that will earn 10% 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 akwers to O decimal places, e.g. 458,581) First payment today First payment at year-end 467345 513184
Transcribed Image Text:Current Attempt in Progress Your answer is partially correct. Amy Medavoy will invest $8,960 a year for 20 years in a fund that will earn 10% 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 akwers to O decimal places, e.g. 458,581) First payment today First payment at year-end 467345 513184
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