# Chapter 6 homework.xlsx - Determine the future value of the...

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Invested AmountInterest RateNo. of PeriodsFV of \$1 (from chart)Future Value118,5009%102.3673643,796229,0006%81.5938546,222341,0006%142.2609092,697462,0005%101.62889100,991=Present Value
1Alex Meir recently won a lottery and has the option of receiving one of the following three prizes(1) \$88,000 cash immediately(2) \$34,000 cash immediately and a six-period annuity of \$9,300 beginning one year from today(3) a six-period annuity of \$18,400 beginning one year from todayaAssuming an interest rate of 7%, determine the Present value for the above options. (Use PVA ofOptionPresent ValueAnnuityPVA of \$1 (from chart) PV of Annuity188,000234,0009,300 i=7%, n=64.7665444,3293-18,400 i=7%, n=64.7665487,7042The Weimer Corporation wants to accumulate a sum of money to repay certain debts due on DecWeimer will make annual deposits of \$175,000 into a special bank account at the end of each of 1Assuming that the bank account pays 8% interest compounded annually, what will be the fund ba(Use FVA of \$1) (Round "FV Factor" to 4 decimal places and final answer to the nearest dollar am
s:\$1) (Round "PV Factors" to 5 decimal places and final answers to the nearest dollar amount.)Total Present Value88,00078,32987,704cember 31, 2022.10 years beginning December 31, 2013.alance after the last payment is made on December 31, 2022?mount.)

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Term
Fall
Professor
MarieMain