Ronald plans to make regular savings contributions of $9,860.00 per year. His first regular savings contribution is expected later today and his last regular contribution is expected in 11 years. He also plans to make a special savings contribution of $52,400.00 in 5 years. Ronald expects to earn 10.43 percent per year. How much money does Ronald expect to have in 12 years? $411,245.88 (plus or minus 10 dollars) $311,437.24 (plus or minus 10 dollars) $343,861.84 (plus or minus 10 dollars) $353, 721.84 (plus or minus 10 dollars) none of the answers are within 10 dollars of the correct answer
Ronald plans to make regular savings contributions of $9,860.00 per year. His first regular savings contribution is expected later today and his last regular contribution is expected in 11 years. He also plans to make a special savings contribution of $52,400.00 in 5 years. Ronald expects to earn 10.43 percent per year. How much money does Ronald expect to have in 12 years? $411,245.88 (plus or minus 10 dollars) $311,437.24 (plus or minus 10 dollars) $343,861.84 (plus or minus 10 dollars) $353, 721.84 (plus or minus 10 dollars) none of the answers are within 10 dollars of the correct answer
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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am. 41.
Transcribed Image Text:Ronald plans to make regular savings contributions of $9,860.00 per year. His first regular savings contribution is expected later today and his last regular contribution is
expected in 11 years. He also plans to make a special savings contribution of $52, 400.00 in 5 years. Ronald expects to earn 10.43 percent per year. How much money does
Ronald expect to have in 12 years? $411,245.88 (plus or minus 10 dollars) $311, 437.24 (plus or minus 10 dollars) $343, 861.84 (plus or minus 10 dollars) $353, 721.84 (plus
or minus 10 dollars) none of the answers are within 10 dollars of the correct answer
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