Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. given below are the present value factors for $1.0

Given below are the present value factors for $1.00 discounted at 10% for one to...

80.2K

Verified Solution

Question

Accounting

Given below are the present value factors for $1.00 discounted at 10% for one to five periods. Each of the items 35 to 37 is based on 10% interest compounded annually. Present Value of $1 Periods Discounted at 10% per Period 1 0.909 2 0.826 3 0.751 4 0.683 5 0.621 What amount should an individual have in a bank account today before withdrawal if $9,000 is needed each year for four years with the first withdrawal to be made today and each subsequent withdrawal at one-year intervals? (The balance in the bank account should be zero after the fourth withdrawal.) Group of answer choices

($9,000 0.909) + ($9,000 0.826) + ($9,000 0.751) + ($9,000 0.683)

$9,000 + ($9,000 0.909) + ($9,000 0.826) + ($9,000 0.751)

$9,000 0.909 4

$9,000 0.683 4

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

Statistics
1.2K views

At a gymnastics meet, three judges evaluate the balance beam performances of five gymnasts. The judges...

Biology
1.2K views

Some etiolated seedlings develop hairs on their epidermis when exposed to dim light. Describe an experiment...

Accounting
1.2K views

Assume that McKinley Electronics completed these selected transactions during March 2016?: a. Sales of $ 2, 400,...

Biology
1.2K views

What was NOT one of the factors leading up to the Cold War between the...

Geometry
1.2K views

What is P factor of 18 Simplify your answer and write it as a fraction...

Basic Math
1.2K views

If a savings account of $8300 is compounded semi-annually at 12.49 % annual interest, how...

Algebra
1.2K views

f(x)=-x+4 if-3?x<04 if 0 ?x<3-x+ 5 if x?3Find the domain of f

Algebra
1.2K views

Find the average rate of change over the interval 2 7 Year x Funding in...

Algebra
1.2K views

Factor completely 25x 36 O 5x 6 5x 6 O 5x 6 5x 6 O...

Accounting
1.2K views

You have been assigned to a country india for this homework assignment. Please see the...

Accounting
1.2K views

the ledger of mai company includes the following accounts with normal balances as of December...

Finance
1.2K views

Restrictive covenants include all of the following except: Question 16 options: ...