onsider the following schedule: (Same Schedule as problém 8, Pepeated agan nere) nnual withdrawal of $500 for ten years Deposit of 10,000 at year 1 Another deposit of 15,000 at year 5. What is the equivalent future worth of above schedule? $31,392 B $34,392
onsider the following schedule: (Same Schedule as problém 8, Pepeated agan nere) nnual withdrawal of $500 for ten years Deposit of 10,000 at year 1 Another deposit of 15,000 at year 5. What is the equivalent future worth of above schedule? $31,392 B $34,392
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Answer the first picture question please. I posted the other question because it's based upon it.

Transcribed Image Text:Consider the following schedule: (Same Schedule as problem 8, repeated again here) number of years =10; annual interest rate 6%
Annual withdrawal of $500 for ten years
Deposit of 10,000 at year 1
Another deposit of 15,000 at year 5.
What is the equivalent future worth of above schedule?
A) $31,392
$34,392
C) $32,392
D) $33,392

Transcribed Image Text:You wish to accumulate $2,000,000 in 40 years. If 40 end-of year deposits are made into an account
earning 6% interest annually, what size deposit is required each year to meet your objective?
A) $10,000
B) $13,000
C) $11,000
D $12,000
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