Question: Given below are the future value factors for 1 at 8% for one to five periods. Periods Future Value of 1 at 8% 1 1.080

Given below are the future value factors for 1 at 8% for one to five periods.

Periods Future Value of 1 at 8%

1 1.080

2 1.166

3 1.260

4 1.360

5 1.469

What amount should be deposited in a bank account today to grow to $15,000 three years from today, assuming 8% interest compounded annually?

a.$15,000 1.260

b.$15,000 1.260 3

c.$15,000 1.260

d.$15,000 1.080 3

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Q:

Given below are the future value factors for 1 at 8% for one to five periods. Interest compounded annually is 8%. What amount will be in a bank account three years from now if $8,000 is invested each...

Q:

ent CALCULATUN Multiple Choice Question 110 Oricle Company has a machine that cost $7200. It is to be leased for 20 years with rent received at the beginning of each year. Lane wants a Periods 19 20...

Q:

Given below are the future value factors for 1 at 12% for one to five periods. Interest is compounded annually at 12%. Periods Future Value of 1 at 12% 1.080 2 1.166 1.260 1.360 1.469 What amount...

Q:

Just answer Given below are the future value factors for 1 at 8% for one to five periods. PeriodsFuture Value of 1 at 8% 11.080 21.166 31.260 41.360 51.469 What amount should be deposited in a bank...

Q:

NEXT Testbank Multiple Choice Question 78 Swifty Corporation will receive $710000 in a future year. If the future receipt is discounted at an interest rate of 9%, Its present value by $461450. In how...

Q:

Testbank Multiple Choice Question 67 Given below are the future value factors for 1 at 6% for one to five periods. Interest is compounded annually at 6%. Periods Future Value of 1 at 6% 1 1.060 2...

Q:

Testbank Multiple Choice Question 68 Given below are the future value factors for 1 at 6% for one to five periods. Interest is compounded annually at 6%. Periods Future Value of 1 at 6% 1 1.060 2...

Q:

Given below are the future value factors for 1 at 12% for one to five periods. Interest is compounded annually at 12%. Periods Future Value of 1 at 12% 1 1.120 2 1.254 3 1.405 4 1.574 5 1.762 What...

Q:

Testbank Multiple Choice Question 65 Given below are the future value factors for 1 at 12% for one to five periods. Interest is compounded annually at 12%. Periods Future Value of 1 at 12% 1 1.120 2...

Q:

Given below are the future value factors for 1 at 7% for one to five periods. Interest is compounded annually at 7%. Periods Future Value of 1 at 7% 1 1.070 2 1.145 3 1.225 4 1.311 5 1.403 If $15200...

Q:

Review the article from the National Dissemination Center for Children with Disabilities (NICHCY), "Contents of the IEP." Summarize these components and explain the purpose and importance of the IEP...

Q:

Find vo(t) for t > 0 in the network in figure using the step-by-step technique. 200 F 3 kn ww 3 kn 2 kn 36 Kn 24 V (+ vo(t) ww

Q:

what is the present value of receiving a deferred contract payment of $ 1 0 million in five years for an athlete, assuming that the discount factor is 6 % ?

Q:

What do horizontal processes accomplish? They foster coordination between units. They increase the need for information. They eliminate the need for project managers. They create slack resources.

Q:

How aware are you of sources of secondary data that would be relevant to your project? What skills will you need to obtain and analyse the secondary data you have in mind? (Chapter 7 is particularly...

Q:

is particularly relevant to these issues.)

Q:

Project planning. Answering these questions should help you to identify actions and priorities that will be important in undertaking your project. The answers you make to these questions may...