When I use my financial calculator to plug in this formula PV=$1,170,000, Interest 8.55%, and Years 33.
Fantastic news! We've Found the answer you've been seeking!
Question:
When I use my financial calculator to plug in this formula PV=$1,170,000, Interest 8.55%, and Years 33. Trying to solve for FV I get 17,537,600.74. But the correct answer is $17,519,333.46. What am I doing wrong?
Expert Answer:
Answer rating: 100% (QA)
A few things to check Make sure you are using the correct numb... View the full answer
Posted Date:
Students also viewed these finance questions
-
Have the actions taken by Congress since the Crisis unfolded been sufficient to resolve this financial crisis and help prevent others from happening in the future If not, what else should be done...
-
KYC's stock price can go up by 15 percent every year, or down by 10 percent. Both outcomes are equally likely. The risk free rate is 5 percent, and the current stock price of KYC is 100. (a) Price a...
-
CoursHeroTranscribedText: Question 1 The daily volume of a brokerage company follows a normal distribution. The director wants to estimate the daily volume negotiated. a) What size should have a...
-
A transparent rod 30.0 cm long is cut flat at one end and rounded to a hemispherical surface of radius 10.0 cm at the other end. A small object is embedded within the rod along its axis and halfway...
-
A survey of wage scales for workers of comparable skill levels was conducted in different regions of the country. In the sample of 500 office workers in the Northeast, the average hourly wage was $...
-
Use the differential equation approach to find vC(t) for t > 0 in the circuit in figure. 6 kn 3 vc); 100 12V (+1
-
GitAlong Inc. manufactures belt buckles in a single-step production process. The following information is available for June: All material is added at the start of the production process. Beginning...
-
During the first month of operations, Simmons Heating and Air Conditioning, Inc., completed the following transactions: Jan 2 Simmons received $39,000 cash and issued common stock to the...
-
1. build a file folder to hold the web contents; 2. build the html file; 3. construct CSS styles; What is your style rule for the photo image? What is your style rule for your Experience?
-
John Rigas (founder and CEO of Adelphia Communications Corporation) was an extraordinary man. Throughout his professional career, he was honored for his entrepreneurial achievements and his...
-
In December, after a heavy winter storm, a quote was received from General Electric for 33 individual air conditioning units at $140 each.Past buy history indicates that 6 months ago, following a...
-
What arguments are there for use of marginal costing principles in the routine costing system of an organization? 5 marks
-
The Chicago Hope Hospital purchased an MRI machine for 12 million dollars, using a 6-year loan at 8% interest rate. ------------------------------------------------------------ Question: If the above...
-
JJ Manufacturing Company has the following manufacturing details during the year. As company accountant, you are asked toreconstruct its accounting record. Purchases during the year 1,021,273.00...
-
A tow rope is used to pull skiers with constant speed up a snowy hill. The rope is parallel to the hill, and the hill makes an angle of = 24 with the horizontal. The coeffi- cient of friction between...
-
2. Rich Uncle Pennybags is the only seller of board games in Atlantic City, New Jersey. The inverse demand curve for board games is given by P=40-0.5Q, where O is in hundreds games per month. Rich...
-
Ashlee, Hiroki, Kate, and Albee LLC each own a 25 percent interest in Tally Industries LLC, which generates annual gross receipts of over $10 million. Ashlee, Hiroki, and Kate manage the business,...
-
See if you can show that an investor would find 27,778, receivable now, as equally acceptable to receiving 40,000 in two years time, assuming that there is a 20 per cent investment opportunity.
-
Can you suggest some areas where things could go other than according to plan in the Billingsgate Battery Company example (basically, buying a machine and using it to render a service for five years)?
-
C. Piperis (Properties) Ltd has the opportunity to acquire a lease on a block of flatsthat has only two years remaining before it expires. The cost of the lease would be100,000. The occupancy rate of...
Study smarter with the SolutionInn App