You would like to have $90,000 in cash to buy a new ride when you graduate in three years. Approximately how much must you deposit at the end of each of the next 12 quarters to have $90,000 cash on the day you make your 12th and final deposit if interest is 16% compounded annually?

You just won $1,000,000 in the Power Ball Lottery. You will receive $40,000 per year for each of the next 25 years beginning one year from today. If the appropriate rate is 14% compounded annually, approximately.

What are your winnings worth today?

Answer rating: 100% (QA)

1 FVPr1rn1 Where FV Future value desired amount90000 P Deposit ... View the full answer