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Unformatted text preview: $10,489 for six years is approximately 4) EcoSystems, Inc. is preparing a five-year plan. Today, sales are $1,000,000. If the growth rate in sales is projected to be 10 percent over the next five years, what will the dollar amount of sales be in year five? 5) David wishes to accumulate $1 million by the end of 20 years by making equal annual end-of-year deposits over the next 20 years. If David can earn 10 percent on his invest-ments, how much must he deposit at the end of each year? 6) Cara establishes a seven-year, 8 percent loan with a bank requiring annual end-of-year payments of $960.43. Calculate the original principal amount....
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- Spring '11