0781498728850 0781498728850 0781498728850 0781498728850 0781498728850 A manufact

Question

0781498728850 0781498728850 0781498728850 0781498728850 0781498728850 A manufacturer of prototyping equipment wants to have $3,000,000 available that a new product line year from now, the equation that represents how much the company is required to deposit each year at 10% per year interest to have the $3,000,000 immediately after the last deposit is 10 years from now so can be initiated. If the company plans to deposit money each year, starting one 3,000,000(A/P, 10%, 10). 3,000,000 + 3,000,000(AF, 10%, 10). 3,000,000(A/F, 10%, 10). 3,000,000(AF, 10%, 11). G A single deposit of $25,000 was made by your grandparents on the day you were born 25 years ago. The balance in the account today if it grew at 10% per year is closest to O $296,454. o $201,667 O$270,870 O $241.224

Explanation / Answer

Future amount is 3,000,000 and this is accumulated by depositing annual amount each year for 10 years at 10%, the annual amount is found to be 3,000,000(A/F, 10%, 10). Select thrid option

The required amount is 25000(F/P, 10%, 25) = 25000*(1 + 10%)^25 = 270867. Select third option.

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