A company has agreed to pay $2.7 million in 8 years to settle a lawsuit. How...

   

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A company has agreed to pay $2.7 million in 8 years to settle a lawsuit. How much must it invest in an account paying 8% annual interest compounded monthly to have that amount when it is due? What is the interest rate per period? i= (Type an integer or decimal rounded to four decimal places as needed.) Find the present value (the amount that should be invested now to accumulate the following amount) if the money is compounded as indicated. $5600 at 3% compounded quarterly for 9 years The present value is $ (Do not round until the final answer. Then round to the nearest cent as needed.) Find the interest rate for a $7000 deposit accumulating to $7970, compounded annually for 8 years. The interest rate is %. (Do not round until the final answer. Then round to two decimal places as needed.) Find the compound amount for the deposit and the amount of interest earned. $5700 at 5% compounded quarterly for 9 years The compound amount after 9 years is $ (Do not round until the final answer. Then round to the nearest cent as needed.) A company has agreed to pay $2.7 million in 8 years to settle a lawsuit. How much must it invest in an account paying 8% annual interest compounded monthly to have that amount when it is due? What is the interest rate per period? i= (Type an integer or decimal rounded to four decimal places as needed.) Find the present value (the amount that should be invested now to accumulate the following amount) if the money is compounded as indicated. $5600 at 3% compounded quarterly for 9 years The present value is $ (Do not round until the final answer. Then round to the nearest cent as needed.) Find the interest rate for a $7000 deposit accumulating to $7970, compounded annually for 8 years. The interest rate is %. (Do not round until the final answer. Then round to two decimal places as needed.) Find the compound amount for the deposit and the amount of interest earned. $5700 at 5% compounded quarterly for 9 years The compound amount after 9 years is $ (Do not round until the final answer. Then round to the nearest cent as needed.)

Answer rating: 100% (QA)

Answer To solve these financial problems we will use the formulas for compound interest and present value 1 Finding the amount to be invested to reach 27 million in 8 years The formula for compound in... View the full answer