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 the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
Mason Company manufactures and sells shoelaces for $2.00 per pair. Its variable cost per unit is $1.70. Mason's total fixed costs are $10,500. How many pairs must Mason Company sell to break even? a. 5,250. b. 6,176. c. 35,000. d. 52,500. e. 61,760.
Answers (1)
Nataraj (2007) finds that a 100100 % increase in the price of water for heavy users in Santa Cruz caused the quantity of water they demanded to fall by an average of 2020 %. (Before the increase, heavy users initially paid $1.551.
Answers (1)
What is the difference between technical efficiency and economic efficiency? Technical efficiency in production means that the most technologically advanced machinery is used in the production of a good.
Answers (1)
What the appropriate strategy for reaching global market
Answers (1)
Sally has been working really hard lately and asks her manager for a raise. Her manager tells her that she is already the highest paid employee on the floor.
Answers (1)
New Questions in Business
Adamson Company manufactures four lines of garden tools. As a result of an activity analysis, the accounting department has identified eight activity cost pools.
Answers (1)
Compute the 2019 Federal income tax liability and the marginal and effective tax rates in each of the following independent cases. Click here to access the 2019 tax rate schedule. If required, round the tax liability the nearest dollar.
Answers (1)
For a portfolio of 40 randomly selected stocks, which of the following is most likely to be true? a. The beta of the portfolio is less than the weighted average of the betas of the individual stocks. b.
Answers (1)
What publication can give you an idea of how administrative jobs are going to change in the future? A: Office Pro B: Occupational Outlook Handbook C: From 9 to 5 D: The Executary
Answers (1)
At a four-way stop, if two cars arrive at the intersection at the same time: A) the larger car has the right of way B) the vehicle on the right yields to the vehicle on the left C) the smaller car has the right of way D) the vehicle on the left
Answers (1)