Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. finance
  3. an investment returns $2000 at the end of each of

An investment returns $2000 at the end of each of the next 6 years, $3000...

60.1K

Verified Solution

Question

Finance

An investment returns $2000 at the end of each of the next 6 years, $3000 at the end of each of years 7 through 9 inclusive and an unknown amount at the end of year 10. Write an equation that finds the unknown amount if the present value of this investment is $42,000 at 4% per annum rate of return. Solve your equation.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Accounting
1.2K views

This week, we are studying general capital assets and long-term obligations. Using key provisions of GASB...

Operations Management
1.2K views

How should marketers go about understanding their customers? What are some of the things they need...

Programming
1.2K views

C++ Zybook Lab 16.5 LAB: Exception handling to detect input string vs. int The given program reads...

Mechanical Engineering
1.2K views

Steam enters an adiabatic turbine at 500C and 4.0MPa and 80m/s. The steam leaves the turbine...

Accounting
1.2K views

12. Indicate below whether the installment sale method of accounting can apply to each of these...

Physics
1.2K views

Q4 An ideal gas expands isothermally from a volume V to V and then compressed...

Basic Math
1.2K views

An auditorium has 20 rows of seats. There are n = 24 seats in the...

Statistics
1.2K views

Effect of larger sample size The study described in Exercise 33 is repeated with a...

Algebra
1.2K views

4 Given the following matrices compute the indicate 3 2 1 1 0 0 A...

Accounting
1.2K views

FROMTHE FOLLOWING TRIAL BALANCE OF MR. DANYAL. PREPARE INCOME STATEMENT AND BALANCE SHEET FOR THEYEAR...

Accounting
1.2K views

E3-18 Effects of errors on financial statements The accountant for Healthy Medical Co., a medical...

Accounting
1.2K views

Problem 2. Kersey Industries collected $140,000 from customers in 2017. Of the amount collected, $35,000...