06 Jan Mr. Ridge wants to invest a certain sum of money a
Mr. Ridge wants to invest a certain sum of money at the end of each year for five years. The investment will earn 10% compounded annually. At the end of the fifth year, he will need a total of $30,000 accumulated. What is his approximate required annual investment?Select one:a. $5,348b. $4,914c. $3,726d. $4,095Question 7Not yet answeredPoints out of 2.00Flag questionQuestion textPortland Company wants to invest $1,000 on 1/1/15. The investment will earn 12% compounded semi-annually. What will be the approximate investment amount at 12/31/17?Select one:a. $1,340b. $1,611c. $1,419d. $1,191e. $1,405Question 8Not yet answeredPoints out of 2.00Flag questionQuestion textSkagway Company purchases a machine on 1/1/17. The four Annual Payments will be $1,000 each January 1, beginning 1/1/17 through 1/1/20 inclusive. Interest Rate is 5% compounded annually. What is the approximate true cost of the machine?Select one:a. $3,546b. $3,723c. $3,329d. $4,546Question 9Not yet answeredPoints out of 2.00Flag questionQuestion textHyde Park Company opens a savings account and agrees to deposit five $1,000 annual installments beginning one year from the account opening. The computation to determine the value of the account immediately after the fifth deposit is based on theSelect one:a. Future Value of Annuityb. Present Value of Annuityc. Future Value of Annuity Dued. Present Value of Annuity DueQuestion 10Not yet answeredPoints out of 2.00Flag questionQuestion textJanice invests $100,000 in a savings account on 1/1/15. The account pays 5% annual interest through 12/31/18, and 10% thereafter. What is the approximate bank balance on 12/31/20?Select one:a. $147,077b. $177,150c. $154,081d. $205,081e. $140,073
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