3) Angelo plans to invest an equal amount of $2,000 every six months beginning this year. The expected semi-annual return is 7%. He plans to invest for 20 years. How much could he expect to have at the end of 20 years? a) $204,888 b) $208,678 c) $395,678 d) $397,456 e) None of the above =40 7% A-2 table FV=$2,000 x 199.635 = 399,270.00
3) Angelo plans to invest an equal amount of $2,000 every six months beginning this year. The expected semi-annual return is 7%. He plans to invest for 20 years. How much could he expect to have at the end of 20 years? a) $204,888 b) $208,678 c) $395,678 d) $397,456 e) None of the above =40 7% A-2 table FV=$2,000 x 199.635 = 399,270.00
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
100%
can you please explain how they got this?
![3) Angelo plans to invest an equal amount of $2,000 every six months beginning this year. The
expected semi-annual return is 7%. He plans invest for 20 years. How much could he expect to
have at the end of 20 years?
n=40
a) $204,888
b) $208,678
c) $395,678
d) $397,456
e) None of the above
7% A-2 table
FV=$2,000 x 199.635 = 399,270.00](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F36412e8c-1315-4767-bae1-2fcc926384e1%2Ff8e6eeec-b2be-4035-ba81-991a60547029%2F03i1sn_processed.png&w=3840&q=75)
Transcribed Image Text:3) Angelo plans to invest an equal amount of $2,000 every six months beginning this year. The
expected semi-annual return is 7%. He plans invest for 20 years. How much could he expect to
have at the end of 20 years?
n=40
a) $204,888
b) $208,678
c) $395,678
d) $397,456
e) None of the above
7% A-2 table
FV=$2,000 x 199.635 = 399,270.00
Expert Solution
![](/static/compass_v2/shared-icons/check-mark.png)
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 3 steps
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
![FINANCIAL ACCOUNTING](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9781259964947/9781259964947_smallCoverImage.jpg)
![Accounting](https://www.bartleby.com/isbn_cover_images/9781337272094/9781337272094_smallCoverImage.gif)
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
![Accounting Information Systems](https://www.bartleby.com/isbn_cover_images/9781337619202/9781337619202_smallCoverImage.gif)
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
![FINANCIAL ACCOUNTING](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9781259964947/9781259964947_smallCoverImage.jpg)
![Accounting](https://www.bartleby.com/isbn_cover_images/9781337272094/9781337272094_smallCoverImage.gif)
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
![Accounting Information Systems](https://www.bartleby.com/isbn_cover_images/9781337619202/9781337619202_smallCoverImage.gif)
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
![Horngren's Cost Accounting: A Managerial Emphasis…](https://www.bartleby.com/isbn_cover_images/9780134475585/9780134475585_smallCoverImage.gif)
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
![Intermediate Accounting](https://www.bartleby.com/isbn_cover_images/9781259722660/9781259722660_smallCoverImage.gif)
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
![Financial and Managerial Accounting](https://www.bartleby.com/isbn_cover_images/9781259726705/9781259726705_smallCoverImage.gif)
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education