What would your investment account be worth in 23 years if you currently have $7,000 saved and plan to add $240 per month at the end of the month for the 23 years if the account pays 6% interest compounded monthly?What is the future value of an $800 annuity payment over 10 years if the interest rates are 6 percent?What is the present value of a $400 annuity payment over 5 years if interest rates are 6 percent?

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Financial Accounting Intro Concepts Meth/Uses

14th Edition

ISBN:9781285595047

Author:Weil

Publisher:Weil

ChapterA: Appendix - Time Value Of Cash Flows: Compound Interest Concepts And Applications

Section: Chapter Questions

Problem 7Q

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What would your investment account be worth in 23 years if you currently have $7,000 saved and plan to add $240 per month at the end of the month for the 23 years if the account pays 6% interest compounded monthly?
What is the future value of an $800 annuity payment over 10 years if the interest rates are 6 percent?
What is the present value of a $400 annuity payment over 5 years if interest rates are 6 percent?

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