Solved

Present and Future Value Tables of $1 at 9% Are

Question 3

Multiple Choice

Present and future value tables of $1 at 9% are presented below.
Present and future value tables of $1 at 9% are presented below. -Claudine Corporation will deposit $5,000 into a money market sinking fund at the end of each year for the next five years. How much will accumulate by the end of the fifth and final payment if the sinking fund earns 9% interest? A) $32,617. B) $29,924. C) $27,250. D) $26,800.
-Claudine Corporation will deposit $5,000 into a money market sinking fund at the end of each year for the next five years. How much will accumulate by the end of the fifth and final payment if the sinking fund earns 9% interest?


A) $32,617.
B) $29,924.
C) $27,250.
D) $26,800.

Correct Answer:

verifed

Verified

Related Questions

Q1: DEF Company will issue $2,000,000 in 10%,

Q2: Present and future value tables of $1

Q4: Present and future value tables of $1

Q5: On January 1, 2018, Bishop Company issued

Q6: DON Corp. is contemplating the purchase of

Q7: Tammy wants to buy a car that

Q8: An annuity consists of level principal payments

Q9: Adam Baum Company borrowed $48,000 from B.

Q10: The calculation of present value eliminates interest

Q11: When interest is compounded, the stated rate