How much would Kristen have to deposit in the bank at the end of each of the next five years if she wishes to have $5,000 in the bank at the end of that time period, assuming she will be earning 6% annual rate of return?

A. $887.
B. $943.
C. $1,000.
D. $1,187.
E. $5,000.

Ans: A. $887.

Business

You might also like to view...

During 2017, Sanchez Corp. had net sales of $16,400,000. The beginning total assets were $8,900,000. The asset turnover ratio was 1.7 times. Calculate the ending total assets of Sanchez

A) $10,394,118 B) $8,900,000 C) $15,652,941 D) $6,752,941

Business

One of the most versatile methods of problem solving described in the text is

) the analytical approach B) the re?ective approach C) the criteria approach D) the de?nitive approach

Business