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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

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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Answer the first picture question please. I posted the other question because it's based upon it. 

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: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
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
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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