For the year ending December 31, 2017, sales for Company Y were $72.51 billion. Beginning January 1, 2018 Company Y plans to invest 6.5% of their sales amount ead Company Y invests into an account earning an APR of 1.7% compounded continuously. Assume a continuous income stream. How much money will be in the investment account on December 31, 2020? Round your answer to three decimal places. xbillion dollars How much money did Company Y invest in the account between January 1, 2018 and December 31, 2020? Round your answer to three decimal places. billion dollars How much interest did Company Y earn on this investment between January 1, 2018 and December 31, 20207
For the year ending December 31, 2017, sales for Company Y were $72.51 billion. Beginning January 1, 2018 Company Y plans to invest 6.5% of their sales amount ead Company Y invests into an account earning an APR of 1.7% compounded continuously. Assume a continuous income stream. How much money will be in the investment account on December 31, 2020? Round your answer to three decimal places. xbillion dollars How much money did Company Y invest in the account between January 1, 2018 and December 31, 2020? Round your answer to three decimal places. billion dollars How much interest did Company Y earn on this investment between January 1, 2018 and December 31, 20207
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:For the year ending December 31, 2017, sales for Company Y were $72.51 billion. Beginning January 1, 2018 Company Y plans to invest 6.5% of their sales amount each year and they expect their sales to increase by 3% each year over the next three years.
Company Y invests into an account earning an APR of 1.7% compounded continuously. Assume a continuous income stream,
How much money will be in the investment account on December 31, 2020?
Round your answer to three decimal places.
x billion dollars
How much money did Company Y invest in the account between January 1, 2018 and December 31, 2020?
Round your answer to three decimal places.
billion dollars
How much interest did Company Y earn on this investment between January 1, 2018 and December 31, 2020?
Round your answer to three decimal places. If intermediate values are used, be sure to use the unrounded values to determine the answer.
billion dollars
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