Income from sales of an injection cleaning gasoline additive has been averaging $170,000 per year for five years. At an interest rate of 10% per year, the future worth of the income at the end of year 5 is closest to:

Income from sales of an injection cleaning gasoline additive has been averaging $170,000 per year for five years. At an interest rate of 10% per year, the future worth of the income at the end of year 5 is closest to:

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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Question

Solve this finance but not use the excel

Income from sales of an injection cleaning gasoline additive has been averaging
$170,000 per year for five years. At an interest rate of 10% per year, the future
worth of the income at the end of year 5 is closest to:
$1,037,867
$1,326,534
$1,252,202
$1,004,722
$850,000

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