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issing variable for each of the following alternatives of investments to accumulate $1,000,000. for 30 years @ 6% annual interest rate: Following are appropriate factors from tables:    Table %   /  n Present Value of annuity due $1 Present

issing variable for each of the following alternatives of investments to accumulate $1,000,000. for 30 years @ 6% annual interest rate: Following are appropriate factors from tables:    Table %   /  n Present Value of annuity due $1 Present

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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QUESTION 41

  1. Compute the missing variable for each of the following alternatives of investments to accumulate $1,000,000. for 30 years @ 6% annual interest rate:

    Following are appropriate factors from tables:

       Table

    %   /  n

    Present Value of annuity due $1

    Present Value of ordinary annuity of $1

    Present value of $1

    Future Value of ordinary annuity of $1

    6%/30

    12.15812

    13.76483

    .17411

    79.05819

     

    One single deposit of $???????? for 30 years. Required Computations: 

       

    $166,666.66
       

    $174,110  
       

    $175,933.83
       

    $126,489

     

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