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Tom Thompson expects to invest $17,000 at 15% and, at the end of a certain...

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Accounting

Tom Thompson expects to invest $17,000 at 15% and, at the end of a certain period, receive $79,091. How many years will it be before Thompson receives the payment? (PV of $1, FV of $1, PVA of $1, and FVA of $1)

Note: Use appropriate factor(s) from the tables provided. Round "Table Factor" to 4 decimal places.

Future Value Present Value Table Facor Years
$79,091 / 17,000 = 4.6524 ? years

Answer & Explanation Solved by verified expert
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