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In: Finance

A student is trying to value an internship opportunity for the upcoming summer. The internship will...

A student is trying to value an internship opportunity for the upcoming summer. The internship will last three months and pay her $2,271.00 at the end of each month. She will also get a “signing” bonus at the beginning of the internship for $850.00. If the student can invest this money in an account that pays 5.04% APR with monthly compounding, what is the value of her account at the end of her internship?

Answer format: Currency: Round to: 2 decimal places.

Solutions

Expert Solution

The value of her account at the end of her internship is:-

=FV(rate,nper,pmt,pv)

=FV(5.04%/12,3,-2271,-850)

=7702.41

jeff jeffy answered 2 years ago
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