Question

Twan Company needs $10,000 on January 1, 2019. It is starting a fund to produce that amount.

Instructions
Compute the amount that must be invested in the fund to produce a $10,000 balance on
January 1, 2019, if:
(a) The initial investment is made January 1, 2014, and the fund earns 6% per year.
(b) The initial investment is made January 1, 2016, and the fund earns 6% per year.
(c) The initial investment is made January 1, 2014, and the fund earns 10% per year.
(d) The initial investment is made January 1, 2016, and the fund earns 10% per year.



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  • CreatedJanuary 30, 2014
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