You are saving for a new house. You place $47,000 into an investment account at the end of each year for five years. How much will you have after five years if the account earns (a) 5%, (b) 7 %, or (c) 9% compounded annually? Note: Use tables, Excel, or a financial calculator. Round your answers to 2 decimal places. (FV of $1, PV of $1, FVA of $1, and PVA of $1) a. b. C.. Annuity Payment $ 47,000 47,000 47,000 Annual Rate 5% 7% 9% Interest Compounded Annually Annually Annually Period Invested 5 years 5 years 5 years Future Value of Annuity $ 59,985.23 65,919.93 72,315.33

You are saving for a new house. You place $47,000 into an investment account at the end of each year for five years. How much will you have after five years if the account earns (a) 5%, (b) 7 %, or (c) 9% compounded annually? Note: Use tables, Excel, or a financial calculator. Round your answers to 2 decimal places. (FV of $1, PV of $1, FVA of $1, and PVA of $1) a. b. C.. Annuity Payment $ 47,000 47,000 47,000 Annual Rate 5% 7% 9% Interest Compounded Annually Annually Annually Period Invested 5 years 5 years 5 years Future Value of Annuity $ 59,985.23 65,919.93 72,315.33

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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