Tyler wants to invest $20,000, today, to accumulate $32,000 for the purchase of an alpaca farm. He

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Tyler wants to invest $20,000, today, to accumulate $32,000 for the purchase of an alpaca farm. He can invest this $20,000 at an interest rate of 10%, compounded annually. Therefore, to determine the number of years it will take to accumulate the required amount, he would search for the 10% column in the:

(a) present value of $1 table, for the factor closest to 0.625

(b) future value of $1 table, for the factor closest to 1.6

(d) present value of an ordinary annuity of $1 table, for the factor closest to 1.6.

Posted Date: Nov 13, 2021 08:29 PM

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Tyler wants to invest $20,000, today, to accumulate $32,000 for the purchase of an alpaca farm. He

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Option b future value of 1 table for the factor closest to 16 is Co... View the full answer

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