You just won a lottery - congratulations! your parents have always told you to plan for the future, so since you already have a well-paying job you decide to invest rather than spend your lottery winnings. the payment schedule from the lottery commission is $100,000 after taxes at end of year one and 19 more payments of exactly $100,000 after taxes in equal annual end-of-the-year deposits (i. e., the first of the next 19 deposits is one year from today) into your account paying 7% compounded annually. how much money will be in your account after the last deposit is made? $3,637,896.48 $4,486,517.68 $2,000,000.00 $4,099,549.23
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “You just won a lottery - congratulations! your parents have always told you to plan for the future, so since you already have a well-paying ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
A bond has a par value of $1,000, a time to maturity of 10 years, and a coupon rate of 8.60% with interest paid annually.
Answers (1)
The Titan retires a $24.6 million bond issue when the carrying value of the bonds is $21.4 million, but the market value of the bonds is $29.0 million. The entry to record the retirement will include:
Answers (1)
Retail prices in a department store are obtained by marking up the wholesale price by 60 %. That is, retail price is obtained by adding 60 % of the wholesale price to the wholesale price.
Answers (1)
Assume that more corn is used to produce ethanol. Simultaneously, more effective control of pests and weeds occurs during farming. Which of the following will definitely occur in the corn market? a. The price of corn will increase b.
Answers (1)
What insurance protects the value of your belongings
Answers (1)
New Questions in Business
The ultimate goal of the marketing process is to do which of the following?
Answers (1)
What effect do you think seasonal demand might have on the price of goods? Explain why.
Answers (1)
Welfare economics explains which of the following in the market for televisions? a. The government sets the quantity of televisions; firms respond to the quantity by charging a specific price. b.
Answers (1)
Cardinal Company is considering a five-year project that would require a $2,890,000 investment in equipment with a useful life of five years and no salvage value. The company's discount rate is 12%.
Answers (1)
Parwin Corporation plans to sell 42,000 units during August. If the company has 17,500 units on hand at the start of the month, and plans to have 18,500 units on hand at the end of the month, how many units must be produced during the month?
Answers (1)