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ShianHagen5
14.05.2021 •
Business
The need for a large-capacity water supply system is forecast to occur 4 years from now. At that time, the system required is estimated to cost $40,000. If an account earns 12% per year compounded annually, the amount that must be placed in the account at the end of each year in order to accumulate the necessary purchase price is most nearly:
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Ответ:
$8,369.38
Explanation:
The amount that must be placed in the account can be viewed as a yearly instalment usually represented by PMT. The PMT is calculated as :
PV = $0
FV = $40,000
N = 4
P/yr = 1
I/yr = 12%
PMT = ??
Using a Financial calculator, PMT is $8,369.38
thus,
The amount that must be placed in the account at the end of each year is $8,369.38.
Ответ: