Sarah Gray wants to invest a certain sum of money at the end of each year...
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Sarah Gray wants to invest a certain sum of money at the end of each year for five years. The investment will earn 4% compounded annually. At the end of five years, she will need a total of $45000 accumulated. How should she compute her required annual investment? O $45000 times the present value of a 5-year, 4% ordinary annuity of 1. O $45000 times the future value of a 5-year, 4% ordinary annuity of 1. $45000 divided by the future value of a 5-year, 4% ordinary annuity of 1. $45000 divided by the present value of a 5-year, 4% ordinary annuity of 1. Sarah Gray wants to invest a certain sum of money at the end of each year for five years. The investment will earn 4% compounded annually. At the end of five years, she will need a total of $45000 accumulated. How should she compute her required annual investment? O $45000 times the present value of a 5-year, 4% ordinary annuity of 1. O $45000 times the future value of a 5-year, 4% ordinary annuity of 1. $45000 divided by the future value of a 5-year, 4% ordinary annuity of 1. $45000 divided by the present value of a 5-year, 4% ordinary annuity of 1.
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Related Book For
Financial Accounting Information For Decisions
ISBN: 978-0324672701
6th Edition
Authors: Robert w Ingram, Thomas L Albright
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