Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. use excel formula please tanya cartman invests

use excel formula please Tanya Cartman invests $24,000 each year in a...

90.2K

Verified Solution

Question

Accounting

use excel formula please image
Tanya Cartman invests $24,000 each year in a fund that earns 7% annual interest, compounded annually. If the first payment into the fund occurs at the beginning of the year, what amount will be in the fund after eight years? Draw a timeline to illustrate the problem. What amount will be in the fund after eight years? (Use the present value and future value tables, a financial calculator, a spreadsheet or the formula method for your calculations. If using present and future value tables or the formula method, use factor amounts rounded to five decimal places, X.XXXXX. Round your final answer to the nearest cent, $X.XX.) After eight years the fund will have

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

Basic Math
1.2K views

Two boats are leaving port at the same time. Ship A is sailing due east at...

Medical Sciences
1.2K views

what is the name of five agent of sexually transmitted bactrial disease and explain each other...

Mechanical Engineering
1.2K views

Naphthalene is commonly used as a repellent against moths to protect clothing during storage. Consider a...

Biology
1.2K views

In this graphic, two plates aresliding past each other. Whattype of boundary is this?A. a...

Physics
1.2K views

nless Two masses m 5kg and m 10kg connected by an inextensibl pulley are moving...

Basic Math
1.2K views

Consider the function f(x)=-3x + 12x-9.a. Determine, without graphing, whether the function has a minimum...

Accounting
1.2K views

U3 Company is considering three long-term capital investment proposals. Each investment has a...

Accounting
1.2K views

El costo de la mercanca vendida a partir de los siguientes datos es el siguiente:...

Accounting
1.2K views

As an auditor, why do you have to test the validity of payments to authorized...

Accounting
1.2K views

On the first day of the fiscal year, a company issues an $844,000, 7%, 10-year...

Accounting
1.2K views

Question Four On 3 1st December 2021 the cash book of Helen showed a balance...

Accounting
1.2K views

You have an investment opportunity that promises to pay you $16,000 in four years. Suppose...