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ToshaCollins_Unit 8_assignment

# ToshaCollins_Unit 8_assignment - Value for 25 periods at 8...

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Tosha Collins BU250 1/9/10 Case Study 11-2 Accumulating Money 1. Value = 90.32 from table 11-1 90.32 x 1,000 = \$90,320 \$90,320-1,000(35) FV = \$55,320 2. Value = 172.317 from table 11-1 172.317 x 1,500 = 258,475.50 \$258,475.50-1,500(35) FV = \$205,975.50 3. Future value after 5 years = \$5,867 Value for 30 periods at 8% is 10.06266 for remaining deposit \$5,767(10.06266) = \$59,037.63 Value for 5 periods at 8% is 5.867 \$1,500(5.87) = \$8,800.50
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Unformatted text preview: Value for 25 periods at 8% is 6.984848 for remaining deposit \$8,800.50(6.84848) = \$60,270.05 Value for 25 periods at 5% is 47.727 \$2,000(47.727) = \$95,454 Accumulated Total = \$59,037.63 + \$60,270.05 + \$95,454 = \$214,761.68 4. \$214,761.68 - \$205,975.50 = \$8,786.18 5. .0041437 x 300,000 = 1,243.11 Challenge Question 1. 11.47 x \$2,000 = \$22,940 22,940-2,000(20) = 17,060 more...
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