Ask Question
3 January, 02:48

Daphne invests $5,800 in a savings account at the beginning of each of the next fifteen years. If his opportunity cost rate is 6 percent compounded annually, how much will her investment be worth after the last annuity payment is made

+3
Answers (1)
  1. 3 January, 05:46
    0
    The answer is $135,000

    Explanation:

    FV = P * ([1 + I]^N - 1) / I

    FV = 5800 * ([1 + 0.06]^15 - 1) / 0.06 = $135,000.35 = $135,000
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Daphne invests $5,800 in a savings account at the beginning of each of the next fifteen years. If his opportunity cost rate is 6 percent ...” 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