Question: Need the answer An individual is planning to set-up an education fund for her daughter. She plans to invest $7, 500 annually at the end

Need the answer

An individual is planning to set-up an education fund for her daughter. She plans to invest $7, 500 annually at the end of each year. She expects to withdraw money from the fund at the end of 9 years and expects to earn an annual return of 8%. What will be the total value of the fund at the end of 9 years? ME. FV of $1. ms; and M51) (Use appropriate factor(s) from the tables provided.) Multlple Choice 9 0 $93,657.00 0 $72,900.00 0 $54,000.00 0 $135,000.00 0 348889.50 I

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!

Need the answer An individual is planning to set-up an education fund for her daughter. She plans to invest $7, 500 annually at the end of each year. She expects to withdraw money from the fund at...

A company expects to invest $5,000 today at 12% annual interest and plans to receive $15,529 at the end of the investment period. How many years will elapse before the company accumulates the...

please answer all the question thankyou Patricio wants to invest a sum of money today that will yield $25.000 at the end of 6 years. Assuming she can earn an interest rate of 6% compounded annually,...

An individual is planning to set-up an education fund for her daughter. She plans to invest $7,500 annually at the end of each year She expects to withdraw money from the fund at the end of 9 years...

An individual is planning to set-up an education fund for her daughter. She plans to invest $7,000 annually at the end of each year. She expects to withdraw money from the fund at the end of 9 years...

19. An individual is planning to set-up an education fund for her daughter. She plans to invest $7,000 annually at the end of each year. She expects to withdraw money from the fund at the end of 9...

individual is planning to set-up an education fund for her daughter. She plans to invest $6,900 annually at the end of each year. She expects to withdraw money from the fund at the end of 9 years and...

An individual is planning to set-up an education fund for her daughter. She plans to invest $7,800 annually at the end of each year. She expects to withdraw money from the fund at the end of 9 years...

An individual is planning to set-up an education fund for her daughter. She plans to invest $7,100 annually at the end of each year. She expects to withdraw money from the fund at the end of 9 years...

An individual is planning to set-up an education fund for her daughter. She plans to invest $6,700 annually at the end of each year. She expects to withdraw money from the fund at the end of 9 years...

Jurvin Enterprises recorded the following transactions for the just completed month. The company had no beginning inventories. a. $94,000 in raw materials were purchased for cash. b. $89,000 in raw...

A. Circle the correct word(s). In some cases, both wordds are correct. The new pizzeria is (1. extremely / completely) popular. It's a (2. really /very) greet place to spend the evening with friends....

eated by Congress to promote an active secondary market for home mortgages, Fannie Mae and Freddie Mac purchase loans that meet specific underwriting andards such as loan size, documentation, and...

Lenovo uses the ZX81 chip in some of its laptop computers. The prices for the chip during the last 12 months were as follows: This exercise contains only part d. With =0.1 and the initial forecast...

3. It is the commitment you show that is the deciding factor.

4. It is the principle of equality (according to very specific criteria of equality) that is crucial.

7. As your starting point, take a discussion you have had with a person at your workplace. Answer the following questions: Answer the following questions: What did you want to achieve? How did you...