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For the year ending December 31, 2017, sales for Corporation Y were $65.21 billion. Beginning January 1, 2018 Corporation Y plans to invest 9.5% of their sales amount each year and they expect their sales to increase by 3% each year over the next three years. Corporation Y invests into an account earning an APR of 1.6% 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. 4.0 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. 4.0 billion dollars How much interest did Company Y earn 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 Submit Answer

For the year ending December 31, 2017, sales for Corporation Y were $65.21 billion. Beginning January 1, 2018 Corporation Y plans to invest 9.5% of their sales amount each year and they expect their sales to increase by 3% each year over the next three years. Corporation Y invests into an account earning an APR of 1.6% 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. 4.0 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. 4.0 billion dollars How much interest did Company Y earn 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 Submit Answer

Essentials Of Investments
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
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For the year ending December 31, 2017, sales for Corporation Y were $65.21 billion. Beginning January 1, 2018 Corporation Y plans to invest 9.5% of their sales amount each year and they expect their sales to increase by 3% each year over the next three years. Corporation invests into an account earning an APR of 1.6% 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. 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. 4.0✓ billion dollars How much interest did Company Y earn 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. 4.0✓ billion dollars Submit Answer
Transcribed Image Text:For the year ending December 31, 2017, sales for Corporation Y were $65.21 billion. Beginning January 1, 2018 Corporation Y plans to invest 9.5% of their sales amount each year and they expect their sales to increase by 3% each year over the next three years. Corporation invests into an account earning an APR of 1.6% 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. 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. 4.0✓ billion dollars How much interest did Company Y earn 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. 4.0✓ billion dollars Submit Answer
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