Harrison co. owns 20,000 of the 50,000 outstanding shares of taylor, inc. common stock. during 2013, taylor earns $1,200,000 and pays cash dividends of $960,000. if the beginning balance in the investment account was $750,000, the balance at december 31, 2013 should be question 23 options: $1,230,000. $990,000. $846,000. $750,000.

Value of investment after 15 years will be $159,405.62

(or) $159,405 (rounded off)

Explanation:

value of retirement account after 15 years

Given information's are

His monthly savings = $500

Interest rate = 7%

Period = 15 years

Value of investment = ((P×(1+i)^n) + P),

where P is the principal,

i is the annual interest rate, and

n is the number of periods

Total investment = $500×12×15 = 90,000

Interest earned

= ((P×(1+i)^n) + P) = (6000 × (1-0.07)15) - 6000) = $69,405.62

Value of investment = (6000 × (1-0.07)15) + 6000) = $159,405.62