Lance Rice has decided to invest $1,200 quarterly for five years in an ordinary annuity at 8%. The total cash value of the annuity at end of year 8 is?

Answers

Answer 1
Answer:

Answer:

The future value at the end of the 5 years is :$ 29,156.84

Please note that the investment period is 5 years therefore it is impossible to calculate the future value annuity for more than 5 years.

Answer 2
Answer:

Final answer:

To find the total cash value of the annuity at the end of year 8, we can use the formula: Future Value = Payment per period * [((1 + Interest rate)^Number of periods) - 1] / Interest rate.

Explanation:

To find the total cash value of the annuity at the end of year 8, we can use the formula:

Future Value = Payment per period * [((1 + Interest rate)^Number of periods) - 1] / Interest rate

In this case, the payment per period is $1,200, the interest rate is 8%, and the number of periods is 8. Plugging these values into the formula, we get:

Future Value = $1,200 * [((1 + 0.08)^8) - 1] / 0.08

Calculating this expression will give us the total cash value of the annuity at the end of year 8.

Learn more about Total cash value of an ordinary annuity here:

brainly.com/question/32684727

#SPJ11


Related Questions

the area of a rectangular photograph is 35 square inches if the width of the photo is 5 inches how tall is the photo
What are some natural conditions of a housing site that influence the dwelling that sits on it? Help ASAP!
Why are commercial advertisements made? A.To dissuade the viewer from buying a product B.To highlight the flaws of a product C.To confuse the viewer about the different products in market D.To convince the viewer to buy a product
John owns 500 shares of stock in Catawba Box, Inc. The company has recently announced the results for the quarter. The company earned a significant profit. Based on the form of ownership, the profit the company earns
Union leaders can call for a lockout.Question 18 options:TrueFalse

People earn what by working to produce goods and services

Answers

people eatn money or income
Money/Income/Wage i dunno which one people use where you live

Is bernie sanders still currently a senator? Or only a candidate running for president?

Answers

Still senator of Vermont

Answer:

he's still a senator he could rule the world with his mittens tho

Alice worked twice as many hours as Louis. Together they worked 49.5 hours. how many hours did they each work?​

Answers

Answer:

24.75 Hours

Explanation:

Since Alice worked TWICE as many hours as Louis, you divide 49.5 by 2.

What costs are incurred on an apprentice during training at the "photographer"

Answers

Answer:

- opportunity cost

- Transportation cost

- Cost of materials and equipment

Explanation:

During the apprentice training at the photographer, the trainee still hasn't still receive a payment for their work.

The time that they dedicated for the training could've been allocated to do other jobs that pay something. This is why the time they've sacrificed is considered as an opportunity cost.

They also need to commute from their home to the training vicinity. This resulted in daily transportation cost until the training finished. Not only that , they're also required to bring their own equipment for the training since it would be expensive for training facilities to provide these for them.

Select the correct answer. Which factor from the Five Forces Model affects market competition when a market has many competitors providing similar products? A. threat of substitutes B. barriers to entry C. supplier power D. buyer power

Answers

Porter's Five Forces is the pave for the framework that helps in the evaluation and the analysis of the competition in the market. The rival companies work hard for the potential market to acquire more and more customers and work for the production of the substitute goods influencing the company's profitability.

The correct answer is B. barriers to entry

Option  B. barriers to entry are correct because barriers to entry help to monopolize the market and hinder competitors from coming in. This is the factor of the Five Forces Model that affects the market competition when the market has many competitors providing the homogenous products.

To know more about the Five Forces Model, refer to the link below:

brainly.com/question/13994046

Answer:

B. barriers to entry

Explanation:

Barriers to entry helps to monopolise the market and hinder competitors from coming in.

What economic system is best for consumers

Answers

probably communism becuase all consumers can afford basic living requirements. but it depends on your teacher