1. Dr. J. wants to buy a Dell computer which will cost $3,400 six years...
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1. Dr. J. wants to buy a Dell computer which will cost $3,400 six years from today. He would like to set aside an equal amount at the end of each year in order to accumulate the amount needed. He can earn 8% annual return. How much should he set aside? Use Appendix C. (Round "FV Factor" to 3 decimal places and your final answer to 2 decimal places.
Multiple Choice
$513.47
$563.47
$463.47
$438.47
2. The IF for the future value of an annuity is 14.164 at 11% for 9 years. If we wish to accumulate $27,000 by the end of 9 years, how much should the annual payments be? Use Appendix C. (Round "FV Factor" to 3 decimal places.)
Multiple Choice
$1,906
none of these
$2,182
$2,682
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