Question content area top Part 1 (Related to Checkpoint 6.1) (Future value of an annuity) Imagine that Homer Simpson actually invested the $ 160,000 he earned providing Mr. Burns entertainment 10 years ago at 11 percent annual interest and that he starts investing an additional $ 1,800 a year today and at the beginning of each year for 15 years at the same 11 percent annual rate. How much money will Homer have 15 years from today? Question content area bottom Part 1 The amount of money Homer will have 15 years from now is $ enter your response here . (Round to the nearest cent.)
Question content area top Part 1 (Related to Checkpoint 6.1) (Future value of an annuity) Imagine that Homer Simpson actually invested the $ 160,000 he earned providing Mr. Burns entertainment 10 years ago at 11 percent annual interest and that he starts investing an additional $ 1,800 a year today and at the beginning of each year for 15 years at the same 11 percent annual rate. How much money will Homer have 15 years from today? Question content area bottom Part 1 The amount of money Homer will have 15 years from now is $ enter your response here . (Round to the nearest cent.)
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 content area top
Part 1
(Related to Checkpoint 6.1) (
160,000 he earned providing Mr. Burns entertainment
10 years ago at
11 percent annual interest and that he starts investing an additional $
1,800 a year today and at the beginning of each year for
15 years at the same
11 percent annual rate. How much money will Homer have
15 years from today?
Question content area bottom
Part 1
The amount of money Homer will have
15 years from now is $
enter your response here
. (Round to the nearest cent.)
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